---
title: "Aspen Aerogels Signs Credit Agreement Amendment With MidCap Financial"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/270146899.md"
description: "Aspen Aerogels has amended its Credit, Security and Guaranty Agreement with MidCap Financial, raising the minimum liquidity threshold and removing the minimum EBITDA covenant. The amendment aims to streamline covenant compliance and maintain liquidity discipline. It also adjusts asset sale proceeds usage and reduces the basket for permitted acquisitions. The agreement was signed on December 16, 2025, and is effective immediately."
datetime: "2025-12-18T11:03:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/270146899.md)
  - [en](https://longbridge.com/en/news/270146899.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/270146899.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/270146899.md) | [繁體中文](https://longbridge.com/zh-HK/news/270146899.md)


# Aspen Aerogels Signs Credit Agreement Amendment With MidCap Financial

Aspen Aerogels entered into Amendment No. 2 to its Credit, Security and Guaranty Agreement with MidCap to modify key loan terms. The amendment raises the minimum liquidity threshold to the greater of $50 million or 100% of the outstanding term loan and removes the minimum EBITDA covenant. It clarifies that asset sale proceeds used for mandatory prepayments will reduce amortization in order of maturity and reduces the basket for permitted acquisitions. Management expects the changes to streamline covenant compliance while maintaining liquidity discipline.

**Agreement details:**

-   **Agreement type**: Amendment No. 2 to Credit, Security and Guaranty Agreement (loan facility amendment)
-   **Counterparty**: MidCap Funding, MidCap Financial, and other lenders
-   **Signed / Effective**: Dec 16 2025 / same
-   **Reason**: Adjust covenants and prepayment mechanics to support liquidity and operations

Original SEC Filing: ASPEN AEROGELS INC \[ ASPN \] - 8-K - Dec. 17, 2025

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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