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Fidelity-backed insulation manufacturer Aspen Aerogels sets terms for $100 million IPO

Aspen Aerogels, which manufactures high-performance aerogel insulation used in energy facilities, announced terms for its IPO on Monday. The Northborough, MA-based company plans to raise $100 million by offering 6.7 million shares at a price range of $14 to $16. At the midpoint of the proposed range, it would command a fully diluted market value of $331 million. Its primary shareholder, Fidelity, will own a 25% stake after the IPO.

Aspen Aerogels, which was founded in 2001 and booked $91 million in sales for the 12 months ended March 31, 2014, plans to list on the NYSE under the symbol ASPN. Aspen initially filed confidentially on March 25, 2014. Barclays, J.P. Morgan, Citi are the joint bookrunners on the deal. It is expected to price the week of June 9, 2014.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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