Loop Industries - LOOP STOCK NEWS

Labaton Sucharow has launched an investigation into Loop Industries (NASDAQ: LOOP) amid serious allegations from Hindenburg Research claiming deceptive practices and false claims about its recycling processes. Reports suggest that Loop's results are unreplicable, its lead scientists lack formal qualifications, and its CEO has connections to individuals with criminal backgrounds related to stock manipulation. Following these revelations, LOOP shares have plummeted over 30%, highlighting potential risks to investors. The firm warns that Loop is unlikely to generate meaningful revenue, with a market cap of approximately $515 million.

Loop Industries (NASDAQ:LOOP) addressed inaccuracies in a report by Hindenburg Research, which holds a short position in its stock. Loop contends the claims in the report are unfounded and based on outdated technology (Gen 1) from 2014-2017, while its current operations utilize the improved Gen 2 technology. The company remains focused on commercializing its sustainable technology to meet the demand for 100% recycled PET plastic and polyester fiber. Loop aims to contribute to a circular economy by recovering waste plastics for sustainable production.

Labaton Sucharow has launched an investigation into Loop Industries (NASDAQ: LOOP) following Hindenburg Research's report accusing the company of fraudulent practices. The report alleges discrepancies in Loop's operations, including two labs producing inconsistent results, unqualified lead scientists, and false claims regarding recycling capabilities. The report also highlights concerning hiring practices by CEO Daniel Solomita and ongoing issues with partnerships, notably with Thyssenkrupp and other major companies. Following the revelations, Loop's shares dropped over 30%.

Loop Industries, Inc. (NASDAQ: LOOP) announced its financial results for Q2 FY21, highlighting key milestones in its Infinite Loop™ commercialization strategy. The company has partnered with Suez Groupe to build its first facility in Europe and completed agreements with INVISTA/Chemtex to finalize its technology package. Despite not generating revenue, Loop raised $25.1 million through a public offering, but reported a net loss of $5.13 million, an increase from the previous year's loss of $3.34 million. R&D expenses surged significantly, and the company aims to scale its operations amid ongoing pandemic challenges.

Loop Industries, a leader in sustainable plastics, has appointed Sheila Morin as the new Chief Marketing Officer, effective September 21, 2020. Morin brings over 20 years of marketing experience, having previously served as CMO at Cirque du Soleil and worked with brands like Procter & Gamble and L'Oréal. Her role at Loop will focus on global branding and customer experience, crucial for the company's upcoming global expansion plans. Loop aims to contribute to a circular economy by offering sustainable solutions that minimize reliance on fossil fuels.

Loop Industries (NASDAQ:LOOP) has successfully completed an underwritten public offering, raising approximately $24 million. A total of 1,880,000 shares were sold at $12.75 each, with an additional option for underwriters to purchase up to 282,000 more shares within 30 days. The funds will support working capital, general corporate purposes, and ongoing R&D initiatives. Roth Capital Partners managed the offering under an existing registration statement. The press release includes forward-looking statements, and potential investors should review all related documents filed with the SEC.

Loop Industries announces a public offering of 1,880,000 shares priced at $12.75 per share, which is expected to raise approximately $24 million. The offering includes an option for underwriters to purchase an additional 282,000 shares within 30 days. The proceeds will support working capital, general corporate purposes, and further research and development. The offering is set to close around September 23, 2020.

Loop Industries (NASDAQ: LOOP) and SUEZ are collaborating to establish the first Infinite Loop™ recycling facility in Europe, aiming to produce 100% recycled and infinitely recyclable plastic. This facility will be the world's largest for PET recycling, potentially generating the capacity for 4.2 billion food-grade beverage bottles annually. The partnership addresses growing demand from brands for sustainable packaging and is projected to save 180,000 tons of CO2 annually. The site selection process is expected to conclude by mid-2021, with commencement of operations targeted for 2023.

Loop Industries (NASDAQ:LOOP) has announced a licensing agreement with Chemtex Global Corporation to utilize INVISTA Performance Technologies' polymerization know-how for its Infinite Loop™ manufacturing facilities. This technology focuses on producing PET resin and polyester fibers from 100% recycled content, promoting sustainability and circular economy practices. An Infinite Loop™ facility can save 135,500 metric tons of CO₂ emissions annually, significantly reducing the environmental impact compared to traditional PET production.