secwatch.observer — SEC 8-K summary
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Issuer:     Loop Media, Inc. (—)
CIK:        0001643988
Form:       8-K
Filed at:   2024-06-03T23:59:59+00:00
Accession:  0001104659-24-067490
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 1.02, 3.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Loop Media raises $2.45M in registered direct + private placement; CPTO steps down
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- Issued 7.875M shares + 1.777M pre-funded warrants at $0.15/sh; private placement 4.348M warrants at $0.2309; gross $2.45M.
- CPTO Liam McCallum stepped down effective May 31, 2024; remains as employee in advisory role with reduced schedule.
- Terminated at-market issuance agreement with B. Riley Securities (up to $50M) with no penalty.
- Placement agent Roth Capital receives 6.5% fee + 700K warrants at $0.25399.
- Waiver agreements with lenders reduce warrant exercise price to $0.24 and waive $500K proceeds, contingent on closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1643988/000110465924067490/0001104659-24-067490-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1643988/000110465924067490/tm2416205d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-067490

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer