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With a pending initial public offering, Aspen Aerogels Inc. has raised $15 million in debt, options and warrants, with a planned top end of $25 million, according to a regulatory filing.
The filing with the U.S. Securities and Exchange Commission showed that there were 17 backers in the funding round, but did not disclose any names. Previous investors have included BASF Venture Capital GmbH, the venture arm of German chemical giant BASF, as well as RockPort Capital Partners, Tenaya Capital, Reservoir Capital Group, Arcapita Ventures and Argonaut Private Equity.
Northborough-based Aspen Aerogels filed its intentions to hold an initial public offering worth up to $115 million in June. That followed a little more than a week after the company had raised $30 million in a similar debt, options and warrants round of financing.
The company said in October 2010 that it had raised a $21.5 million round of funding, led by BASF Venture Capital.
Aspen Aerogels, founded in 2001, develops and markets as aerogel technology used for insulation products in a variety of markets, including oil and gas; building and construction; outdoor gear and apparel; solar thermal; appliances; and transportation.
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