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Loop Industries (LOOP) has shared an announcement.
Loop Industries has struck a deal with Reed Management SAS to accelerate the worldwide commercialization of its Infinite Loop™ technology, with Reed injecting €35 million into Loop. This funding will come via a combination of investment in securities and loans, aimed at supporting the technology’s global and European deployment. The transaction’s completion hinges on certain conditions, including Reed’s successful fundraising and Loop securing governmental financing. This pivotal agreement, which is expected to close by the end of the second fiscal quarter, was announced in a press release and detailed in an investor presentation on Loop’s website. Investors are advised to follow Loop’s various communication channels for potentially material company updates.
For a thorough assessment of LOOP stock, go to TipRanks’ Stock Analysis page.
