Aspen Aerogels, Inc. announced that its wholly-owned subsidiary, Aspen Aerogels Georgia LLC, together with the Company and Aspen Aerogels Rhode Island, LLC have entered into a definitive loan agreement with General Motors Holdings LLC for a secured lending commitment of $100 million in connection with Aspen's construction and equipping of its second aerogel manufacturing facility in Statesboro, Georgia. The $100 million of loan proceeds will be available to Aspen to draw on a periodic basis from January 2023 through September 2023, subject to certain conditions precedent to funding and other financing requirements. The Loan has a maturity date of March 31, 2025 and carries no prepayment penalty.
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