Item 1.01 Entry into a Material Definitive Agreement.
On September 25, 2020, Aspen Aerogels, Inc. (the "Company") amended its Amended
and Restated Loan and Security Agreement with Silicon Valley Bank ("SVB"), dated
as of September 3, 2014, as amended, (the "Loan Agreement"). Pursuant to that
certain Eleventh Amendment to Amended and Restated Loan and Security Agreement
by and between the Company and SVB (the "Amendment"), the Loan Agreement has
been amended to revise, among other things, the definition of "Borrowing Base"
to accommodate certain foreign receivables, to revise the financial covenant and
to introduce a floor rate of 4% for the interest rates applicable to Company's
borrowings.
The summary of the Amendment is qualified in its entirety by reference to the
full text of the Amendment, copies of which will be attached as an exhibit to
the Company's Quarterly Report on Form 10-Q for the third fiscal quarter ending
September 30, 2020.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses