Loop Industries Announces $5.1 Million Registered Direct Offering
Loop Industries, Inc. (LOOP)
US:NASDAQ Investor Relations:
loopindustries.com/en/investors/home
Company Research
Source: GlobeNewswire
BEDFORD, Mass. and MONTREAL, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Loop Industries, Inc. (Nasdaq:LOOP) (“Loop” or the “Company”), a leading sustainable plastics technology innovator, today announced that it has entered into a definitive agreement with a single institutional investor for the purchase of 600,000 shares of its common stock, at a purchase price per share of $8.55, in a registered direct offering. The closing of the offering is expected to occur on or about March 1, 2019, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The gross proceeds to the Company, before deducting placement agent fees and other offering expenses, are expected to be approximately $5.1 million. Loop Industries intends to use the net proceeds from this offering for working capital and other general corporate purposes. The shares of common stock are being offered by the Company pursuant to a "shelf" registrat
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