Northborough, Massachusetts -- Aspen Aerogels has set the price of its initial public offering for 7.5m shares of common stock at $11 per share for total gross proceeds of $82.5m (EUR60.2m).
As previously reported at UTECH-polyurethane.com, Aspen Aerogels benefited from a $21.5m investment from BASF Venture Capital back in 2010.
Last month, BASF said Slentite was capable of providing the same insulation performance with 25 to 50% slimmer panelling than conventional materials. It has also only been made available as a solid panel structure from this year, said BASF.
In addition, Aspen Aerogels has granted the underwriters a 30-day option to purchase up to an additional 1.1m shares of common stock at the initial public offering price less the underwriting discount.
The company’s shares began trading on the New York Stock Exchange in mid-June under the symbol ASPN.
XE Currency conversion: 1 July
