Aspen Aerogels Secures $125M Term Loan And $100M Revolving Credit Facility With MidCap Financial To Redeem Convertible Note And Support Plant II Financing
Portfolio Pulse from Benzinga Newsdesk
Aspen Aerogels has secured a $125 million term loan and a $100 million revolving credit facility from MidCap Financial. This funding will be used to redeem a convertible note and support the financing of Plant II, with the new Georgia facility excluded from the collateral structure.
August 19, 2024 | 8:33 pm
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Aspen Aerogels has secured significant financing from MidCap Financial, which will be used to redeem a convertible note and support Plant II. The exclusion of the new Georgia facility from the collateral structure may indicate strategic financial planning.
The secured financing provides Aspen Aerogels with the necessary capital to manage its debt obligations and invest in Plant II, which could lead to growth and stability. The exclusion of the Georgia facility from collateral suggests a strategic approach to asset management.
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IMPORTANCE 80
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