Item 1.01 Entry into a Material Definitive Agreement.

On December 27, 2021, Aspen Aerogels, Inc. (the "Company") entered into a second amendment (the "SVB Amendment") to the Second Amended and Restated Loan and Security Agreement with Silicon Valley Bank, dated as of March 12, 2021, as amended on September 29, 2021, to revise certain financial covenants, among other things.

The summary of the SVB Amendment is qualified in its entirety by reference to the full text of the SVB Amendment, a copy of which will be attached as an exhibit to the Company's annual report on Form 10-K for the fiscal year ending December 31, 2021.

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