Aspen Aerogels announces pricing of $14M in common stock

NORTHBOROUGH, Mass. Aspen Aerogels Inc. has announced the pricing of 1.7 million shares of its common stock available to the public that is expected to gross roughly $14 million, the company announced Thursday.

The company designs, develops and manufactures aerogel insulation and has a manufacturing facility in East Providence.

In its announcement, Aspen Aerogels said that it expects to use the proceeds for working capital and general corporate expenses.

The shares are priced at $8.25 per common share. All of the shares in the offering are being sold by the company.

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The offer is expected to close on Feb. 18 and is subject to customary closing conditions.

Aspen Aerogels reported a $34.4 million loss in 2018 and in its most recent quarterly filing, logged a $2.3 million loss in the third quarter of 2019.

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