Loop Industries Enters Material Definitive Agreement

TL;DR

Loop Industries signed a big deal, filing shows.

AI Summary

Loop Industries, Inc. announced on June 4, 2024, that it entered into a material definitive agreement. The company also disclosed financial statements and exhibits related to this agreement. Further details regarding the specific nature of the agreement and its financial implications are not fully detailed in the provided excerpt.

Why It Matters

This filing indicates a significant new contract or partnership for Loop Industries, which could impact its future revenue and operational scale.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement, which could carry significant financial and operational implications, but the specifics are not yet disclosed.

Key Players & Entities

• Loop Industries, Inc. (company) — Registrant
• June 4, 2024 (date) — Date of Report
• May 30, 2024 (date) — Date of earliest event reported
• Nevada (jurisdiction) — State of incorporation
• 27-2094706 (tax_id) — IRS Employer Identification No.
• 480 Fernand-Poitras Terrebonne (address) — Principal executive offices
• J6Y 1Y4 (zip_code) — Principal executive offices zip code
• Canada (location) — Principal executive offices country
• ( 450 ) 951-8555 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share LOOP Nasdaq Global Market

Filing Documents

• loop_8k.htm (8-K) — 30KB
• loop_ex101.htm (EX-10.1) — 438KB
• loop_ex991.htm (EX-99.1) — 19KB
• 0001654954-24-007343.txt ( ) — 666KB
• loop-20240604.xsd (EX-101.SCH) — 6KB
• loop-20240604_lab.xml (EX-101.LAB) — 14KB
• loop-20240604_cal.xml (EX-101.CAL) — 1KB
• loop-20240604_pre.xml (EX-101.PRE) — 9KB
• loop-20240604_def.xml (EX-101.DEF) — 2KB
• loop_8k_htm.xml (XML) — 4KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On May 30, 2024, Loop Industries, Inc. (the "Company" or "Loop") entered into a Share Purchase Agreement (the "Agreement") by and between the Company and Reed Management SAS ("Reed"). Pursuant to the Agreement, within a period of 12 months following closing, Reed will contribute 35 million to the Company to fund the global commercialization of the Infinite Loop technology and the parties have agreed to form a 50/50 joint venture for the European deployment of Loop's technology. Under the terms of the Agreement, Reed will provide the 35 million of capital as follows: 10M investment in a Convertible Preferred Security to be issued by Loop, which contains a 13% PIK dividend rate and 5-year term; 25M loan to Loop in two equal tranches – first tranche to support global deployment opportunities paid at closing and second tranche to support European deployment opportunities paid in the following 12 months with both tranches having a 13% PIK interest rate and 3-year term; The closing of the transaction is subject to the fulfillment of certain closing conditions, principally the conditions that (i) Reed shall have successfully completed its first capital raising for its fund; and (ii) Loop shall have received a binding financing commitment from a governmental agency. While there can be no assurance that the abovementioned closing conditions will be met, the Company currently anticipates that the transaction should close by the end of the second quarter of the current fiscal year. The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On May 30, 2024, the Company issued a press release announcing the signing of the Agreement. A copy of the press release is being furnished as Exhibit 99.1 and is incorporated herein by reference. 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 members 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 in this Item 7.01 of this Current Report on Form 8-K is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act"), and shall not be incorporated or deemed to be incorporated by reference into any filing by the Company under the Securities Act of 1933 (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 10.1* Share Purchase Agreement, dated May 30, 2024 by and between Loop Industries, Inc. and Reed Management SAS. 99.1 Press Release, dated May 30, 2024, announcing Reed agreement. * Annexes, schedules and certain exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. Loop hereby undertakes to furnish supplemental copies of any of the omitted annexes, schedules and exhibits upon request by the SEC. 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LOOP INDUSTRIES, INC. Date: June 4, 2024 By: /s/ Fady Mansour Fady Mansour Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR