Loop Industries secures $66M non-dilutive Reed financing; Q3 net loss $4.2M

Loop Industries, Inc.

MOU with Reed for €60M ($66M) non-dilutive capital: $33M to Loop, $33M to 50/50 JV for European Infinite Loop rollout.
Q3 FY2024 net loss $4.2M vs $1.0M prior year (prior-year included $6.7M land-sale gain); revenue $26K; expenses down $2.75M.
Loop PET resin meets USP and European Pharmacopeia standards, enabling use in pharmaceutical packaging.
MOU expected to close by end of March 2024, subject to due diligence; construction of Ulsan ARC planned 2024-2026.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Loop Industries, Inc. reported financial results for the third quarter for fiscal year 2024.

Period: the third quarter for fiscal year 2024
Result: reported results

Exact text from the filing

On January 16, 2024, Loop Industries, Inc. (the “Company”) issued a press release announcing its financial results for the third quarter of fiscal year ending February 29, 2024.

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3 earnings releases filed in the last 30 days. Browse all earnings releases →

Loop Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-24-000642

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