Aspen Aerogels announces $200M offering of common stock

Aspen Aerogels announced that it has commenced a proposed underwritten public offering of $200M of shares of its common stock. "Our existing shareholder Wood River Capital, LLC, an affiliate of Koch Investments Group, and/or certain of its affiliates have indicated an interest in purchasing up to $100 million of our common stock in this offering at the public offering price. However, because indications of interest are not binding agreements or commitments to purchase, Wood River Capital, LLC and/or certain of its affiliates may determine to purchase fewer securities than they indicate an interest in purchasing or not to purchase any securities in this offering." Aspen intends to use the net proceeds from the offering to partially fund the construction of Phase I of its second aerogel manufacturing facility in Statesboro, Georgia and for other general corporate purposes. Cowen and Barclays are acting as joint book-running managers for the offering.