Berliner Boersenzeitung - Loop Industries Completes Convertible Preferred Financing With Reed Societe Generale Group and Sells First Technology License For An Infinite Loop Manufacturing Facility in Europe

EUR -
AED 3.816824
AFN 72.952252
ALL 98.438583
AMD 415.214404
ANG 1.871662
AOA 947.704654
ARS 1065.882528
AUD 1.667322
AWG 1.87047
AZN 1.762145
BAM 1.954004
BBD 2.096853
BDT 124.101169
BGN 1.956564
BHD 0.391992
BIF 3070.948111
BMD 1.03915
BND 1.411189
BOB 7.176405
BRL 6.435196
BSD 1.038536
BTN 88.400905
BWP 14.423605
BYN 3.398644
BYR 20367.339516
BZD 2.089759
CAD 1.493144
CDF 2982.360366
CHF 0.936087
CLF 0.037309
CLP 1029.464941
CNY 7.581115
CNH 7.592591
COP 4545.148469
CRC 527.310304
CUC 1.03915
CUP 27.537474
CVE 110.159518
CZK 25.136875
DJF 184.677456
DKK 7.461331
DOP 63.26186
DZD 140.508292
EGP 52.886082
ERN 15.58725
ETB 132.231473
FJD 2.411659
FKP 0.822988
GBP 0.829585
GEL 2.920501
GGP 0.822988
GHS 15.26597
GIP 0.822988
GMD 74.818437
GNF 8975.405716
GTQ 7.999571
GYD 217.28031
HKD 8.07113
HNL 26.386749
HRK 7.453725
HTG 135.793893
HUF 410.282908
IDR 16844.880887
ILS 3.793318
IMP 0.822988
INR 88.499314
IQD 1360.449687
IRR 43735.229742
ISK 145.085757
JEP 0.822988
JMD 161.805066
JOD 0.737069
JPY 163.422979
KES 134.216802
KGS 90.406309
KHR 4174.123628
KMF 484.373758
KPW 935.234397
KRW 1514.867615
KWD 0.320277
KYD 0.865496
KZT 538.010367
LAK 22711.908192
LBP 93000.628319
LKR 306.06693
LRD 189.014468
LSL 19.310667
LTL 3.06834
LVL 0.628571
LYD 5.098118
MAD 10.472672
MDL 19.161206
MGA 4898.450968
MKD 61.524406
MMK 3375.118585
MNT 3531.031481
MOP 8.308085
MRU 41.456304
MUR 48.912776
MVR 16.071811
MWK 1800.844944
MXN 20.93311
MYR 4.662652
MZN 66.405559
NAD 19.310852
NGN 1608.187574
NIO 38.214879
NOK 11.803845
NPR 141.441648
NZD 1.842889
OMR 0.400072
PAB 1.038546
PEN 3.867097
PGK 4.214964
PHP 60.790791
PKR 289.11646
PLN 4.258385
PYG 8099.556151
QAR 3.777129
RON 4.974307
RSD 116.995843
RUB 103.913498
RWF 1448.754589
SAR 3.90135
SBD 8.711771
SCR 14.671682
SDG 625.049715
SEK 11.540748
SGD 1.414117
SHP 0.822988
SLE 23.743241
SLL 21790.458555
SOS 593.548791
SRD 36.430535
STD 21508.306454
SVC 9.087299
SYP 2610.89574
SZL 19.319059
THB 35.465649
TJS 11.361558
TMT 3.647416
TND 3.311457
TOP 2.43379
TRY 36.582121
TTD 7.057446
TWD 33.97501
TZS 2514.742726
UAH 43.544105
UGX 3801.469699
USD 1.03915
UYU 46.225737
UZS 13407.162145
VES 53.594628
VND 26435.975372
VUV 123.369966
WST 2.870951
XAF 655.348399
XAG 0.035028
XAU 0.000397
XCD 2.808354
XDR 0.796261
XOF 655.329498
XPF 119.331742
YER 260.177178
ZAR 19.401278
ZMK 9353.59695
ZMW 28.741585
ZWL 334.605868
  • RBGPF

    -0.7000

    59.8

    -1.17%

  • BCC

    1.1200

    123.36

    +0.91%

  • BCE

    0.0790

    22.919

    +0.34%

  • NGG

    -0.1900

    58.83

    -0.32%

  • CMSC

    -0.1621

    23.74

    -0.68%

  • GSK

    -0.1250

    33.935

    -0.37%

  • SCS

    0.0650

    11.715

    +0.55%

  • RIO

    -0.0650

    59.165

    -0.11%

  • RELX

    0.2450

    45.835

    +0.53%

  • CMSD

    -0.1200

    23.43

    -0.51%

  • JRI

    0.0900

    12.19

    +0.74%

  • AZN

    -0.3300

    66.3

    -0.5%

  • RYCEF

    0.0000

    7.25

    0%

  • BTI

    -0.0050

    36.215

    -0.01%

  • VOD

    0.0600

    8.43

    +0.71%

  • BP

    0.0510

    28.801

    +0.18%

Loop Industries Completes Convertible Preferred Financing With Reed Societe Generale Group and Sells First Technology License For An Infinite Loop Manufacturing Facility in Europe
Loop Industries Completes Convertible Preferred Financing With Reed Societe Generale Group and Sells First Technology License For An Infinite Loop Manufacturing Facility in Europe

Loop Industries Completes Convertible Preferred Financing With Reed Societe Generale Group and Sells First Technology License For An Infinite Loop Manufacturing Facility in Europe

  • REED SOCIETE GENERALE GROUP INVESTS €10 MILLION IN LOOP VIA A CONVERTIBLE PREFERRED SECURITY AT A $4.75 CONVERSION PRICE.

  • LOOP COMPLETES ITS INAUGURAL SALE OF AN INFINITE LOOP™ TECHNOLOGY LICENSE, GENERATING AN UPFRONT PAYMENT OF €10 MILLION.

  • FORMATION OF A EUROPEAN PARTNERSHIP TO DEPLOY INFINITE LOOP™ MANUFACTURING TECHNOLOGY.

  • PROCEEDS TO SUPPORT CONSTRUCTION OF THE INFINITE LOOP™ FACILITY IN INDIA AND FINANCE LOOP'S OPERATIONAL CASH REQUIREMENTS.

LOOP MANAGEMENT TO HOLD UPDATE CALL AT 8:45 AM ET on December 13, 2024

Text size:

  • REED SOCIETE GENERALE GROUP INVESTS €10 MILLION IN LOOP VIA A CONVERTIBLE PREFERRED SECURITY AT A $4.75 CONVERSION PRICE.

  • LOOP COMPLETES ITS INAUGURAL SALE OF AN INFINITE LOOP™ TECHNOLOGY LICENSE, GENERATING AN UPFRONT PAYMENT OF €10 MILLION.

  • FORMATION OF A EUROPEAN PARTNERSHIP TO DEPLOY INFINITE LOOP™ MANUFACTURING TECHNOLOGY.

  • PROCEEDS TO SUPPORT CONSTRUCTION OF THE INFINITE LOOP™ FACILITY IN INDIA AND FINANCE LOOP'S OPERATIONAL CASH REQUIREMENTS.

LOOP MANAGEMENT TO HOLD UPDATE CALL AT 8:45 AM ET on December 13, 2024

Loop Industries, Inc. (Nasdaq:LOOP) (the "Company," "Loop," "we," "us," or "our"), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate ("PET") plastic and textile-to-textile ("T2T") polyester fiber, has secured €10 million through a convertible preferred security financing with Reed Societe Generale Group, a European investment firm majority-owned by the bank Societe Generale. Additionally, as part of the Reed Societe Generale Group transaction, Loop has finalized the sale of its first Infinite Loop™ technology license, generating an initial €10 million payment, with additional milestone-based payments from Reed Societe Generale Group to follow.

The Reed Societe Generale Group transaction marks a pivotal step in Loop's commercialization strategy, enabling the deployment of its patented recycling technology across Europe and supporting capital investment in cost-effective manufacturing regions, including its joint venture in India with strategic partner Ester Industries Ltd. Proceeds from the financing and licensing deal will fund the Indian project and Loop's operational cash flow needs.

Key terms of the €10 million convertible preferred security include:

  • 13% PIK dividend rate

  • 5-year term

  • Convertible to Loop common stock at $4.75 per share or redeemable in cash

The technology license will be granted to a European partnership owned 90% by Reed Societe Generale Group and 10% by Loop, which is being formed to develop Infinite Loop™ manufacturing facilities in Europe. Loop retains the right to increase its equity stake in the European manufacturing facility, as well as potential future facilities, to a maximum of 50% for each facility. The license is to build one Infinite Loop™ manufacturing facility in Europe. Future facilities under this partnership will require the purchase of additional technology licenses from Loop.

The license sale underscores the commercial readiness of Loop's technology, validated by four years of successful operations at its Terrebonne facility, which supplies bottle-grade PET resin for consumer packaging and T2T polyester fiber to advance circular fashion for apparel brands. Loop is committed to expanding the reach of its proven solution to the plastic waste global issue by partnering with well-financed, reliable customers through technology licenses and engineering services. This strategy allows Loop to address global demand in regions where it does not plan to build facilities, driving further growth and value creation while focusing Loop's internal resources and capital on direct equity investments.

With regulatory approval for Societe Generale's acquisition of a 75% stake in Reed Societe Generale Group finalized, it is positioned to deploy capital into this and other projects. The previous condition precedent to closing relating to government funding is no longer applicable, although Loop expects that such additional financing will be available when the Indian project is approved to begin construction. Funding for both the financing and the initial payment for the technology license is expected within seven business days following the incorporation of the European partnership company.

Julien Touati, CEO of Reed Societe Generale Group, commented: "Reducing dependency on virgin plastics is a global challenge. We are proud to support the rollout of Loop's technology in Europe by becoming the majority shareholder of this European partnership. This strategic investment allows us to leverage Loop's unique expertise and strong relationships with world-class brands committed to decarbonizing their supply chains. It fits perfectly with our ambition to actively contribute to the industrialization of Europe's circular economy, significantly reduce pollution, and foster sustainable growth."

"The sale of our first technology license is a transformative milestone, proving the scalability and market readiness of our Infinite Loop™ technology," said Daniel Solomita, CEO and Founder of Loop Industries. "Our financing agreement and partnership with Reed Societe Generale Group propels us into a new phase of growth - expanding into Europe with strategic precision while advancing our flagship Infinite Loop™ project in India. These strategic steps align with our long-term investment vision and underscore our commitment to innovation, scalability, and delivering exceptional value for our shareholders. I look forward to working closely with Julien and his team at Reed Societe Generale Group in leading the circular economy in plastic packaging and circular fashion in Europe."

Corporate Update Call

Senior Management of Loop will host a corporate update call, followed by a question-and-answer session, which can be accessed via the dial-in numbers below.

Date: Friday, December 13, 2024

Time: 8:45 am Eastern Time

Participant joining details (by Telephone):

United States (Local): +1 404 975 4839

United States (Toll-Free): +1 833 470 1428

Access Code: 625641

OR

Registration Link: https://www.netroadshow.com/events/login?show=2e808989&confId=75536

- Avoid wait time - Bypass speaking with an operator to join the call

- Receive a Calendar Invitation with call access details including your unique PIN

About Loop Industries

Loop Industries is a technology company whose mission is to accelerate the world's shift toward sustainable PET plastic and polyester fiber and away from our dependence on fossil fuels. Loop Industries owns patented and proprietary technology that depolymerizes no and low-value waste PET plastic and polyester fiber, including plastic bottles and packaging, carpets and textiles of any color, transparency or condition and even ocean plastics that have been degraded by the sun and salt, to its base building blocks (monomers). The monomers are filtered, purified and polymerized to create virgin-quality Loop™ branded PET resin suitable for use in food-grade packaging and polyester fiber, thus enabling our customers to meet their sustainability objectives. Loop™ PET plastic and polyester fiber can be recycled infinitely without degradation of quality, successfully closing the plastic loop. Loop Industries is contributing to the global movement towards a circular economy by reducing plastic waste and recovering waste plastic for a sustainable future.

Common shares of the Company are listed on the NASDAQ Global Market under the symbol "LOOP."

For more information, please visit www.loopindustries.com. Follow Loop on Twitter: @loopindustries, Instagram: loopindustries, Facebook: Loop Industries and LinkedIn: Loop Industries

Forward-Looking Statements

This news release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "should," "could," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or "continue," the negative of such terms or similar words. These forward-looking statements include, without limitation, statements about Loop's market opportunity, its growth strategies, plans and timelines for completing the €10 million convertible preferred stock financing and technology license sale, plans for use of expected proceeds, ability to improve and expand its capabilities and seek additional financing, and plans for future growth and future operations including expansion in Europe and advancing the joint venture in India. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond Loop's control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with among other things: (i) our ability to commercialize our technology and products, (ii) the status of our relationships with our partners, (iii) development and protection of our intellectual property and products, (iv) industry competition, (v) our need for and ability to obtain additional funding relative to our current and future financial commitments, (vi) our ability to continue as a going concern, (vii) engineering, contracting, and building our manufacturing facilities, (viii) our ability to scale, manufacture, and sell our products in order to generate revenues, (ix) our proposed business model and our ability to execute it, (x) our ability to obtain the necessary approvals or satisfy any closing conditions in respect of any of our proposed partnerships, (xi) our joint venture projects and our ability to recover certain expenditures in connection them, (xii) adverse effects on the Company's business and operations as a result of increased regulatory, media, or financial reporting scrutiny, practices, rumors, or otherwise, (xiii) public health issues, such as disease epidemics, which may lead to reduced access to capital markets, supply chain disruptions, and government-imposed business closures, (xiv) war, regional tensions, and economic or other conflicts that could impact market stability and our business; (xv) the effect of the continuing worldwide macroeconomic uncertainty and its impacts, including inflation, market volatility and fluctuations in foreign currency exchange and interest rates, (xvi) the outcome of any Securities and Exchange Commission ("SEC") investigations or class action litigation filed against us, (xvii) our ability to hire and/or retain qualified employees and consultants, (xviii) other events or circumstances over which we have little or no control, and (xix) other factors discussed in Loop's Annual Report on Form 10-K for the fiscal year ended February 29, 2024 filed with the SEC and in Loop's subsequent filings with the SEC. More detailed information about Loop and the risk factors that may affect the realization of forward-looking statements is set forth in Loop's filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. Loop assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, unless otherwise required by law.

For More Information:

Investor Relations:

Kevin C. O'Dowd, Investor Relations
Loop Industries, Inc.
+1 617-755-4602
[email protected]

Media Inquiries:

Andrea Kostiuk, VP Marketing & Communications
Loop Industries, Inc.
+1 (450) 951-8555
[email protected]

SOURCE: Loop Industries

(Y.Yildiz--BBZ)