Attached files
file | filename |
---|---|
EX-99.1 - EX-99.1 - ASPEN AEROGELS INC | d878375dex991.htm |
EX-5.1 - EX-5.1 - ASPEN AEROGELS INC | d878375dex51.htm |
EX-1.1 - EX-1.1 - ASPEN AEROGELS INC | d878375dex11.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): February 13, 2020
Aspen Aerogels, Inc.
(Exact name of Registrant as Specified in Its Charter)
Delaware | 001-36481 | 04-3559972 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
30 Forbes Road, Building B, Northborough, MA |
01532 | |||
(Address of Principal Executive Offices) | (Zip Code) |
Registrants Telephone Number, Including Area Code: (508) 691-1111
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
Trading Symbol |
Name of exchange on which registered | ||
Common Stock | ASPN | The New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01. | Entry Into a Material Definitive Agreement. |
On February 13, 2020, Aspen Aerogels, Inc. (the Company) entered into an underwriting agreement (the Underwriting Agreement) with Craig-Hallum Capital Group LLC, as representative of the several underwriters named in Schedule I therein (the Underwriters), relating to the underwritten public offering of 1,700,000 shares of the Companys common stock, par value $0.00001 per share (the Offering). The price to the public in the Offering was $8.25 per share. The gross proceeds to the Company from the Offering are expected to be approximately $14.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by the Company, but excluding any exercise of the Underwriters option to purchase additional shares of common stock. The Offering is anticipated to close on or about February 18, 2020, subject to customary closing conditions. In addition, under the terms of the Underwriting Agreement, the Company granted the Underwriters an option, exercisable for 30 days, to purchase up to 255,000 additional shares of common stock to cover over-allotments, if any.
The Underwriting Agreement contains customary representations, warranties and agreements by the Company, customary conditions to closing, indemnification obligations of the Company and the Underwriters, including for liabilities under the Securities Act of 1933, as amended (the Securities Act), other obligations of the parties and termination provisions. The Offering was made pursuant to the Companys effective registration statement on Form S-3 (Registration Statement No. 333-227158) previously filed with the Securities and Exchange Commission (SEC) and a related prospectus supplement and accompanying prospectus. The Underwriting Agreement is filed as Exhibit 1.1 to this report and is incorporated herein by reference. The foregoing description of the terms of the Underwriting Agreement does not purport to be complete and is qualified in its entirety by reference to such exhibit. A copy of the opinion of Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C. relating to the legality of the issuance and sale of the shares in the Offering is attached as Exhibit 5.1 hereto.
Item 8.01. | Other Events. |
On February 13, 2020, the Company issued a press release announcing that it had priced the Offering. A copy of this press release is attached as Exhibit 99.1 hereto and the information contained therein is incorporated herein by reference.
This report contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Companys expectations with respect to the Offering, including its ability to complete the Offering and its expected and intended use of proceeds from the Offering. These and any other forward-looking statements in this report are based on managements current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties associated with market conditions and the satisfaction of customary closing conditions related to the offering, as well as risks and uncertainties detailed in the Companys periodic filings with the SEC, including, but not limited to, the Companys Annual Report on Form 10-K for the year ended December 31, 2018, the Companys Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, the final prospectus supplement related to the Offering filed with the SEC on February 13, 2020 and from time to time the Companys other investor communications. The Company is providing the information in this report as of this date and does not undertake any obligation to update any forward-looking statements contained in this report as a result of new information, future events or otherwise, except to the extent required by law.
Item 9.01. | Financial Statements and Exhibits. |
Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Aspen Aerogels, Inc. | ||||||
Date: February 13, 2020 | By: | /s/ John F. Fairbanks | ||||
Name: | John F. Fairbanks | |||||
Title: | Vice President, Chief Financial Officer and Treasurer |