The complete exit by a Koch-affiliated activist removes a potential catalyst for operational or strategic change. Monitor for any new 13D filings or insider buying that could signal fresh conviction, but the absence of activist pressure reduces near-term upside catalysts.
Price Chart
Executive Summary
Wood River Capital, LLC (an affiliate of Koch, Inc.) has exited its entire position in Aspen Aerogels, selling 12,280,426 shares at $4.73 per share in a block trade on September 23, 2026. This represents a complete liquidation of a previously material activist stake, with the reporting persons now holding zero shares. The exit comes after a prolonged holding period and follows a 10-K that showed the company's financial position, suggesting the activist has concluded its engagement.
Key Financial Metrics
Key Facts
- Wood River Capital sold all 12,280,426 Public Shares on September 23, 2026 at $4.73/share in a block trade
- Reporting persons now hold 0 Public Shares, down from a previously material stake
- This is Amendment No. 6 to the initial Schedule 13D filed April 5, 2022
- The sale represents a complete exit by a Koch-affiliated activist investor
Financial Impact
Total sale value approximately $58.1 million (12,280,426 shares × $4.73). Complete liquidation of activist position.
Risk Factors
- Loss of activist oversight could reduce management accountability
- Block trade at $4.73 may create overhead supply if shares are distributed to less committed holders
- No remaining activist to push for strategic alternatives or operational improvements
Investment Themes
Documents Analyzed
This report is based on 3 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0001193125-26-401393 |
| Document: 0001193125-26-401393-index.html | 0001193125-26-401393 |
| Document: 0001193125-26-401393.txt | 0001193125-26-401393 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | Press Release | $5.44 | awaiting T+1 | — | $5.43 (−0.15%) |
Oct 19, 2026 8d ago | SC 13G | $5.32 $5.33 | ▲ +0.19% | ▼ −0.15% | $5.43 (+2.11%) |
Sep 24, 2026 4w ago | SC 13D/A | $5.22 $5.17 | ▲ +0.96% | ▲ +0.21% | $5.43 (−4.06%) |
Sep 15, 2026 6w ago | 8-K | $4.86 $4.99 | ▲ +2.70% | ▲ +2.37% | $5.43 (+11.77%) |
Aug 15, 2026 10w ago | Institutional Cluster | $5.82 $5.58 | ▼ −4.12% | ▼ −3.45% | $5.43 (−6.66%) |
Apr 23, 2026 26w ago | Press Release | $3.36 $3.50 | ▲ +4.17% | ▲ +3.38% | $5.43 (+61.67%) |
Feb 25, 2026 34w ago | 8-K | $2.57 $3.14 | ▼ −22.18% | ▼ −22.72% | $5.43 (−111.37%) |
US Market Status
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