Mintz advised Aspen Aerogels, Inc. (NYSE: ASPN), a technology leader in sustainability and electrification solutions, on a registered follow-on offering of 4,887,500 shares of its common stock, which included 637,500 shares pursuant to the underwriters’ option to purchase additional shares of its common stock. The price to the public in the offering was $20.00 per share and the gross proceeds to Aspen from the offering were approximately $98 million, before deducting underwriting discounts and commissions and estimated offering expenses.

Aspen is an aerogel technology company that has introduced a line of aerogel thermal barriers for use in battery packs in the electric vehicle market. In addition, Aspen designs, develops and manufactures innovative, high-performance aerogel insulation used in the energy industrial and sustainable insulation materials markets. The company will use net proceeds from the offering for working capital, capital expenditures, and general corporate purposes.

The Mintz team included Securities and Capital Markets Co-Chair John Rudy and Energy & Sustainability Co-Chair Sahir Surmeli, as well as Associates Nishant Dharia, Raven Sun, Hannah Karraker, and Elana Brockmann.

Additional information about the offering can be found here. 

The Mintz Energy & Sustainability team is committed to advancing innovation, transforming infrastructure, and scaling solutions integral to business success and a thriving planet. Led by Co-Chairs Sahir Surmeli and Tom Burton and comprising Projects & Infrastructure Chair Ayaz Shaikh and Member Paul Dickerson, the team includes 15 core members and 50+ industry-leading attorneys and professionals across legal disciplines. As one of the first law firms to develop a practice focused on energy and sustainability innovation, Mintz has helped clients complete 800+ transactions over nearly two decades, with more than $30 billion in investment value raised. The practice currently serves 250 clients spanning the climate tech, energy transition, sustainable infrastructure, and green industrial sectors. More information is available here.

About Mintz

Mintz is a litigation powerhouse and business accelerator serving leaders in life sciences, private equity, energy, and technology. The world’s most innovative companies trust Mintz to provide expert advice, protect and monetize their IP, negotiate deals, source financing, and solve complex legal challenges. The firm has over 600 attorneys across offices in Boston, Los Angeles, Miami, New York, Washington, DC, San Francisco, San Diego, and Toronto.