Aspen Aerogels (ASPN) has issued an announcement.
Aspen Aerogels, Inc. has finalized a note repurchase agreement with Wood River Capital, repurchasing $123.9 million in convertible notes, and established a new $225 million credit facility with MidCap Financial, comprised of a $125 million term loan and a $100 million revolving credit line. This financial restructuring is complemented by the termination of a previously undrawn $100 million loan agreement with General Motors Holdings LLC, positioning Aspen Aerogels for enhanced financial management and operational flexibility.
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