secwatch.observer — SEC 8-K summary
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Issuer:     Loop Industries, Inc. (LOOP)
CIK:        0001504678
Form:       8-K
Filed at:   2024-12-26T23:59:59+00:00
Accession:  0001654954-24-015913
Event type: other_material
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.03, 5.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Loop Industries closes EUR 20M preferred stock financing and licensing deal with Reed
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- Received EUR 20M total: EUR 10M from Series B Convertible Preferred (1,044,430 shares at $10/share) and EUR 10M initial license fee.
- Series B pays 13% cumulative annual PIK dividend; convertible to common at $4.75/share after 3 years or automatically at 5 years.
- License grants European JV (Infinite Loop Europe SAS) use of depolymerization tech for one facility; further facilities require separate licenses.
- Proceeds to be used for general corporate purposes and technology commercialization.
- Investors Rights Agreement includes resale registration, standstill, lock-up, and voting arrangements with CEO Solomita.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1504678/000165495424015913/0001654954-24-015913-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1504678/000165495424015913/loop_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-015913

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