Tiger Brokers

BUZZ-Aspen Aerogels falls after launching stock offering

Reuters
Oct 22, 2024

** Aspen Aerogels Inc's shares down 5.5% to $20.17 in extended trading as co looks to raise equity ** Specialty chemicals maker commences 4.25 mln share offering for working capital, capex and other purposes

** Goldman Sachs and Morgan Stanley jt bookrunners ** ASPN last Weds closed up ~13% at $25.41 after co received $671 mln conditional loan commitment from U.S. DOE for construction of planned second aerogel manufacturing facility in Register, Georgia ** Co also forecast Q3 rev above consensus

** Stock on Mon fell 1.3% to $21.33, giving it market value of ~$1.6 bln based on ~77 mln shares outstanding, per LSEG

** Shares up 35% YTD and were trading around $7 a year ago

(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@thomsonreuters.com lance.tupper@tr.com 1-646-279-6380))

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