Loop Media Announces NYSE American Acceptance of Plan to Regain Compliance
Loop Media (NYSE American: LPTV), a leading multichannel streaming CTV platform, has received acceptance from NYSE American for its plan to regain compliance with listing standards. The company has been granted until October 23, 2025 to meet the requirements outlined in Sections 1003(a)(i), (ii), and (iii) of the NYSE American Company Guide. During this period, Loop Media will be subject to periodic review by NYSE American.
The company's common stock will continue to trade on NYSE American during the compliance period, provided it meets other listing requirements. This development does not affect Loop Media's business operations or SEC reporting obligations. If compliance is not achieved by the deadline or sufficient progress is not made, NYSE American may initiate delisting proceedings.
- NYSE American accepted Loop Media's compliance plan
- Company granted until October 23, 2025 to regain compliance
- Common stock continues to trade on NYSE American during compliance period
- Risk of delisting if compliance is not achieved by October 23, 2025
- Company currently not in compliance with NYSE American listing standards
- Subject to periodic review by NYSE American during compliance period
During the Plan Period, the Company will be subject to periodic review by the NYSE American on its progress with the goals and initiatives outlined in the Plan. The Company intends to regain compliance with Sections 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide during the Plan Period. If the Company does not regain compliance with the NYSE American listing standards by October 25, 2025, or if the Company does not make sufficient progress consistent with the Plan during the Plan Period, then NYSE American may initiate delisting proceedings.
The Company's shares of common stock, par value
Additional details regarding the Acceptance Letter from the NYSE American are included in, and the description above is qualified in its entirety by, Loop Media's Current Report on Form 8-K filed with the SEC on July 18, 2024, which will be made available under "Investors" – "SEC Filings" at www.loop.tv.
About Loop Media, Inc.
Loop Media, Inc. ("Loop®") (NYSE American: LPTV) is a leading connected television (CTV) / streaming / digital out-of-home TV and digital signage platform optimized for businesses, providing music videos, news, sports, and entertainment channels through its Loop® TV service. Loop Media is the leading company in the
Loop® TV's digital video content is streamed to millions of viewers in CTV / streaming / digital out of home locations including bars/restaurants, office buildings, retail businesses, college campuses, airports, among many other venues in
Loop® TV is fueled by one of the largest and most important premium short-form entertainment libraries that includes music videos, movie trailers, branded content, and live performances. Loop Media's non-music channels cover a wide variety of genres and moods and include movie trailers, sports highlights, lifestyle and travel videos, viral videos, and more. Loop Media's streaming services generate revenue from programmatic and direct advertising, and subscriptions.
To learn more about Loop Media products and applications, please visit us online at Loop.tv
Follow us on social:
Instagram: @loopforbusiness
X (Twitter): @loopforbusiness
LinkedIn: https://www.linkedin.com/company/loopforbusiness/
Safe Harbor Statement and Disclaimer
This news release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding the Company's intention to regain compliance with the listing requirements of the NYSE American (including submission of the plan of compliance) and its ability to do so, cost- cutting measures, exploration of strategic alternatives and financing opportunities, expected performance, ability to compete in the highly competitive markets in which it operates, ability to develop talent and attract future talent, the success of strategic actions Loop Media is taking, and the impact of strategic transactions. Forward-looking statements give our current expectations, opinions, beliefs or forecasts of future events and performance. A statement identified by the use of forward-looking words including "will," "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements. Although Loop Media believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. Loop Media takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by Loop Media. Loop Media's Securities and Exchange Commission filings are available at www.sec.gov.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240718952019/en/
For media inquiries, please contact:
Loop Media Press Contact
Grant Genske
grant@loop.tv
626-610-6913
Source: Loop Media, Inc.
FAQ
What is the deadline for Loop Media (LPTV) to regain compliance with NYSE American listing standards?
Will Loop Media (LPTV) continue trading on NYSE American during the compliance period?
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Does the NYSE American acceptance affect Loop Media's (LPTV) business operations?
