Last $9.60 USD
Change Today -0.20 / -2.04%
Volume 20.5K
As of 8:04 PM 10/22/14 All times are local (Market data is delayed by at least 15 minutes).

aspen aerogels inc (ASPN) Snapshot

Open
$9.85
Previous Close
$9.80
Day High
$9.85
Day Low
$9.51
52 Week High
06/23/14 - $11.74
52 Week Low
08/7/14 - $8.04
Market Cap
220.8M
Average Volume 10 Days
23.1K
EPS TTM
--
Shares Outstanding
23.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for ASPEN AEROGELS INC (ASPN)

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aspen aerogels inc (ASPN) Details

Aspen Aerogels, Inc., an energy efficiency company, designs, develops, and manufactures aerogel insulation. The company offers Pyrogel XT and Pyrogel XTF for applications in high temperature steam pipes, vessels and equipment, aerospace and defense systems, fire barriers, and welding blankets; Cryogel Z for use in sub-ambient and cryogenic pipelines, vessels, and equipment; Spaceloft Subsea that is used in medium to high temperature offshore oil pipelines; and Spaceloft and Spaceloft A2 for applications in ambient temperature walls, floors, and roofs in commercial, residential, and institutional buildings. It also provides Pyrogel 2250 for use in medium to high temperature appliances, transportation, and electronics; Pyrogel 6650 for high temperature aerospace and defense systems; and Cryogel x201, which used in sub-ambient, including refrigerated appliances, cold storage, and aerospace applications. Aspen Aerogels, Inc. sells its products to distributors, contractors, and original equipment manufacturers of insulation products, components, and systems in North America, Europe, and Asia. The company, formerly known as Aspen Merger Sub, Inc., was founded in 2001 and is headquartered in Northborough, Massachusetts.

220 Employees
Last Reported Date: 06/16/14
Founded in 2001

aspen aerogels inc (ASPN) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $450.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $265.0K
Senior Vice President of Sales and Marketing
Total Annual Compensation: $281.0K
Compensation as of Fiscal Year 2013.

aspen aerogels inc (ASPN) Key Developments

Aspen Aerogels, Inc.(NYSE:ASPN) added to Russell 2000 Index

Aspen Aerogels, Inc. will be added to the Russell 2000 Index.

Aspen Aerogels, Inc.(NYSE:ASPN) added to Russell 3000 Index

Aspen Aerogels, Inc. will be added to the Russell 3000 Index.

Aspen Aerogels, Inc. Enters into Amended and Restated Loan and Security Agreement with Silicon Valley Bank

On September 3, 2014, Aspen Aerogels, Inc. entered into an amended and restated loan and security agreement with Silicon Valley Bank, effective August 31, 2014 (Credit Facility). Under the credit facility, the lender agreed to increase the maximum amount the company is permitted to borrow, subject to continued covenant compliance and borrowing base requirements, from $10 million to $20 million and to extend the maturity date to August 31, 2016. The funds available at any time are limited to the eligible borrowing base comprised of certain accounts receivable and inventory. As of August 31, 2014, there was no outstanding balance under the credit facility. Outstanding letters of credit in the amount of $1.5 million are backed by the credit facility and reduce the funds otherwise available to the company. At the company's election, the interest rates applicable to borrowings under the credit facility may be based on LIBOR or prime rate. Prime Rate-based interest rates vary from Prime Rate plus 0.75% per annum to Prime Rate plus 1.75% per annum, while LIBOR-based rates vary from LIBOR plus 3.75% per annum to LIBOR plus 4.25% per annum. In addition, the company paid a commitment fee of $100,000 upon closing and will pay a facility fee of 0.5% per annum on the average unused portion of the credit facility. The credit facility contains customary representations and warranties and customary affirmative and negative covenants, including, among others, covenants that limit or restrict the company's ability to incur indebtedness, grant liens, merge or consolidate, dispose of assets, make investments, make acquisitions, enter into certain transactions with affiliates, pay dividends or make distributions, or repurchase stock, in each case subject to customary exceptions for a loan facility of this size and type. In addition, the credit facility contains customary events of default that entitles the lender to cause any or all of the company's indebtedness under the credit facility to become immediately due and payable. The events of default include, among others, non-payment, inaccuracy of representations and warranties, covenant defaults, the occurrence of a material adverse effect (as defined in the credit facility), cross-default to material agreements, cross-default to material indebtedness, bankruptcy and insolvency, material judgment defaults and change of control default. In addition, the company is required to comply with financial covenants relating to EBITDA (as defined in the credit facility) during the term of the credit facility and has agreed to limit unfinanced capital expenditures at specified levels during the term of the credit facility. The company's obligations under the credit facility are secured by all assets of the company and its Rhode Island subsidiary, except for certain exclusions. The company may terminate the credit facility at any time without an obligation to pay a termination fee.

 

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ASPN Competitors

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Industry Analysis

ASPN

Industry Average

Valuation ASPN Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.3x
Price/Book 1.8x
Price/Cash Flow NM Not Meaningful
TEV/Sales 1.8x
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