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Filing Details

Accession Number:: 0000899243-22-037818
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2022-12-06 20:00:19
Reporting Period:: 2022-11-28

Accepted Time:: 2022-12-06 20:00:19
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1145986	Aspen Aerogels Inc	ASPN	()	KS

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
923338	Koch Industries Inc	4111 E. 37Th Street North Wichita KS 67220		No	No	Yes	No
1888978	Wood River Capital, Llc	4111 E. 37Th Street North Wichita KS 67220		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2022-11-30	10,526,316	$9.50	15,780,426	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Convertible Senior PIK Toggle Notes due 2027	Acquisiton	2022-11-28	0	$0.00	491,735	$29.94

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0	2022-11-28	2027-02-18	No	4	J	Direct

Footnotes

On November 30, 2022, Aspen Aerogels, Inc. (the "Issuer") announced the pricing of an underwritten public offering of the Issuer's common stock, par value $0.00001 per share ("Public Shares"), at a price to the public of $9.50 per Public Share (the "Offering"). Wood River Capital, LLC ("Wood River") participated in the Offering by purchasing 10,526,316 Public Shares from the underwriters.
Wood River is beneficially owned by SCC Holdings, LLC ("SCC"), SCC is beneficially owned by KIM, LLC ("KIM"), KIM is beneficially owned by Koch Investments Group, LLC ("KIG"), KIG is beneficially owned by Koch Investments Group Holdings, LLC ("KIGH"), and KIGH is beneficially owned by Koch Industries, Inc. ("Koch Industries"), in each case by means of ownership of all voting equity instruments. Koch Industries, SCC, KIM, KIG, and KIGH may be deemed to beneficially own the shares of the Issuer's common stock beneficially owned by Wood River by virtue of (i) Koch Industries' beneficial ownership of KIGH, (ii) KIGH's beneficial ownership of KIG, (iii) KIG's beneficial ownership of KIM, (iv) KIM's beneficial ownership of SCC and (v) SCC's beneficial ownership of Wood River.
On November 28, 2022, the Issuer and Wood River entered into Amendment No. 1 to Convertible Senior PIK Toggle Note Due 2027 ("Amendment No. 1") to the Convertible Senior PIK Toggle Note Due 2027, dated February 18, 2022 (as amended by Amendment No. 1, the "Convertible Notes"), whereby the initial conversion price was reduced by $5.00 from $34.936625 per Public Share to $29.936625 per Public Share by increasing the initial conversion rate from 28.623257 Public Shares per $1,000 principal amount of the Convertible Notes to 33.400100 Public Shares per $1,000 principal amount of the Convertible Notes. Wood River was not issued additional principal amount of the Convertible Notes in connection with Amendment No. 1, and the transaction in Table II is reported solely to reflect the change in conversion price on the Convertible Notes as a result of such amendment.