Aspen Aerogels (ASPN) Stock: Why it Surged Over 40% Today

By Amit Chowdhry ● Jun 30, 2022
  • The stock price of Aspen Aerogels Inc (NYSE: ASPN) surged by over 40% pre-market today. This is why.

The stock price of Aspen Aerogels Inc (NYSE: ASPN) surged by over 40% pre-market today. Investors are responding positively to Aspen Aerogels announcing that it has decided not to proceed with the concurrent public offerings of its common stock and its green convertible senior notes due 2027 (the notes) previously announced on June 28, 2022. 

The decision not to proceed with the concurrent offerings results from an assessment by the company that current market conditions are not conducive for the offerings on terms that would be in the best interests of Aspen’s shareholders. And as a result of this decision, no shares of common stock or Notes will be sold pursuant to the concurrent offerings.

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