Loop closes $20.8M financing/license with Reed Societe Generale; posts Q3 net loss $11.9M on $8.46M impairment

Loop Industries, Inc.

Closed financing and tech licensing with Reed Societe Generale Group for total cash proceeds of $20.8M (€20M).
Issued 1,044,430 Series B Preferred shares at $10/share to Reed Circular Economy; convertible at $4.75/sh, 13% PIK dividend.
Sold first technology license for €10M upfront; European partnership (90% Reed, 10% Loop) to deploy Infinite Loop tech.
Terminated JV with SK Geo Centric, resulting in $8.46M impairment charge; SKGC director resigned from board.
Net loss $11.9M in Q3 vs $4.2M prior year; revenue $52k; cash $323k down from $6.96M.

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