Light-density open-cell SPF is commonly known as half-pound foam. It is a semi-rigid material with a sponge-like appearance that expands during installation and creates small, open cells that are filled with carbon dioxide. Due to its ability to expand during the application process, it fills cracks, crevices and voids and adheres to irregular surfaces or substrates to form an air sealing insulation.
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One thing I wanted to mention was that I think your price point is a little high and that might deter people from considering spray foam. As a project manager for a spray foam company for years I can tell you that we offer 0.5 Lb. open-cell foam at around $.25/board foot. We even offer a 1.0 Lb. open-cell foam for less/the same cost as you quoted the 0.5 Lb. foam for above. The 1/0 Lb. open-cell foam has an R-value of almost 5.