Loop Industries Signs Material Definitive Agreement

TL;DR

Loop Industries just signed a big deal, details to come.

AI Summary

Loop Industries, Inc. entered into a material definitive agreement on December 12, 2024. The filing does not disclose the specific nature or counterparty of this agreement, only that it is a significant event requiring disclosure.

Why It Matters

This filing indicates a significant new contract or partnership for Loop Industries, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details about the material definitive agreement introduces uncertainty, making it a medium-risk event until more information is available.

Key Players & Entities

• Loop Industries, Inc. (company) — Registrant
• December 12, 2024 (date) — Date of earliest event reported

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
• 0001654954-24-015710.txt ( ) — 148KB
• loop-20241212.xsd (EX-101.SCH) — 6KB
• loop-20241212_lab.xml (EX-101.LAB) — 14KB
• loop-20241212_cal.xml (EX-101.CAL) — 1KB
• loop-20241212_pre.xml (EX-101.PRE) — 9KB
• loop-20241212_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 December 12, 2024, Loop Industries, Inc. (the "Company" or "Loop") entered into an Amended and Restated Share Purchase Agreement (the "Amended Agreement") with Reed Management SAS ("Reed"), which amends the original Share Purchase Agreement dated May 30, 2024 previously reported by the Company in a current report on Form 8-K filed on June 4, 2024. To facilitate the closing of the transactions contemplated by the Amended Agreement, a simplified joint-stock company is in the process of being incorporated under French law ("Loop Europe"), which is expected to be owned 90% by Reed and 10% by Loop. The Amended Agreement provides, among other things: Upon the closing, Loop will sell and issue a number of shares of convertible preferred stock of the Company to Loop Europe for aggregate gross proceeds of 10 million, which will occur simultaneously with Loop Europe's issuance of corporate bonds to Reed in the amount of 10 million; Upon or prior to the closing, Loop Europe will pay Loop the first royalty tranche of 10 million under a license agreement to be entered into between Loop, as licensor, and Loop Europe, as licensee, which agreement will grant a non-transferable, non-exclusive, royalty-bearing license to use Loop's technology, which may only be implemented once and for a single facility, with the right to grant one sublicense. The closing of the transactions is subject to the fulfillment of customary closing conditions, including the completion of the incorporation of Loop Europe and the delivery of executed transaction documents related to the issuance of the convertible preferred stock and the grant of the license. The Company currently anticipates that the transactions will close within seven business days following the incorporation of Loop Europe. INFORMATION RELATING TO FORWARD LOOKING STATEMENTS This Current Report on Form 8-K contains forward-looking statements within the meaning of the Priv

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: December 18, 2024 By: /s/ Fady Mansour Fady Mansour Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR