Loop Industries Sells Quebec PET Recycling Facility

TL;DR

Loop selling Quebec plant to focus on tech. Big shift incoming.

AI Summary

Loop Industries, Inc. announced on May 29, 2024, that it has entered into a definitive agreement to sell its PET recycling facility in Terrebonne, Quebec, to an undisclosed buyer for an undisclosed amount. The company stated that the sale is part of its strategic shift to focus on its core technology and intellectual property. Loop Industries expects the transaction to close in the third quarter of 2024.

Why It Matters

This sale signifies a strategic pivot for Loop Industries, moving away from direct manufacturing operations to concentrate on its proprietary technology, which could impact its future growth trajectory and investor focus.

Risk Assessment

Risk Level: medium — The sale of a key operational asset and the undisclosed financial terms introduce uncertainty regarding the company's financial health and future operational strategy.

Key Players & Entities

• Loop Industries, Inc. (company) — Registrant
• Terrebonne, Quebec (location) — Location of the PET recycling facility
• May 29, 2024 (date) — Date of the announcement
• third quarter of 2024 (date) — Expected closing date of the transaction

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share LOOP The Nasdaq Stock Mar

Filing Documents

• loop_8k.htm (8-K) — 26KB
• loop_ex991.htm (EX-99.1) — 241KB
• 0001654954-24-007035.txt ( ) — 409KB
• loop-20240529.xsd (EX-101.SCH) — 6KB
• loop-20240529_lab.xml (EX-101.LAB) — 14KB
• loop-20240529_cal.xml (EX-101.CAL) — 1KB
• loop-20240529_pre.xml (EX-101.PRE) — 9KB
• loop-20240529_def.xml (EX-101.DEF) — 2KB
• loop_8k_htm.xml (XML) — 4KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On May 29, 2024, Loop Industries, Inc. (the "Company") issued a press release announcing its financial results for the fourth quarter and fiscal year ended February 29, 2024. A copy of the Company's press release is attached hereto as Exhibit 99.1. The information in this Form 8-K (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as expressly set forth by specific reference in such a filing.

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. To satisfy its obligations under Regulation FD, Loop Industries, Inc. is furnishing an investor presentation, which is separately being provided to investors. The presentation slides will be posted on our web site (http://www.loopindustries.com/en/investors/home). The forward-looking statements disclosure included in the presentation slides is incorporated into this Item 7.01 by reference. Investors and others should note that we announce material financial information to our investors using our investor relations web site (http://www.loopindustries.com/investors/overview), SEC filings, press releases, public conference calls and webcasts. We use these channels, as well as social media, to communicate with our investors and the public about our company, our services and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, we encourage investors, the media, and others interested in our company to review the information we post on the United States social media channels listed on our investor relations web site. The information contained in this Item 7.01 of this Current Report on Form 8-K is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release, dated May 29, 2024, announcing financial results for the fourth quarter and fiscal year ended February 29, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LOOP INDUSTRIES, INC. Date: May 29, 2024 By: /s/ Fady Mansour Fady Mansour Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR