Loop Industries: Societe Generale to acquire 75% of Reed, securing €35M financing package

Loop Industries, Inc.

Societe Generale agreed to acquire 75% of Reed and provide €250M initial funding (up to €350M), subject to regulatory approval.
Reed provides €10M convertible preferred security (13% PIK, 5-year, conversion at $4.75/share) and €25M loan (13% PIK, 3-year).
€35M total financing package through JV partnership with Loop supports European deployment and Loop's India facility equity commitment.
Loop expects to fulfill remaining closing condition within timeframe of Societe Generale-Reed closing.

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