Loop Media Announces NYSE American Notice of Delisting

Rhea-AI Summary

Loop Media, a leading multichannel streaming CTV platform, announced on August 8, 2024, that it received a notification from NYSE Regulation of NYSE American regarding the suspension and pending delisting of its common stock due to low selling prices. The company has the right to appeal, but success is not guaranteed. Starting August 9, 2024, Loop Media's stock will trade on the OTC Pink Current under the symbol 'LPTV.' For further details, refer to the company's Form 8-K filed with the SEC on August 9, 2024, available on Loop Media's investor website.

Positive

• None.

Negative

• Loop Media's stock trading suspended and delisting proceedings initiated by NYSE American due to low stock price.
• Uncertainty about the success of any appeal to the NYSE American Listing Qualifications Panel.
• Stock to be traded on OTC Pink Current, indicating potential downgrade in stock's perceived value.

Insights

Financial Analyst

This delisting notice from NYSE American is a significant setback for Loop Media. Delisting often signals financial distress and can have severe implications:

• Reduced liquidity and potentially lower stock valuation
• Decreased investor confidence and access to capital
• Potential breach of debt covenants or other financial agreements

The move to OTC Pink Current may result in increased volatility and reduced institutional investment. Loop Media's appeal right offers a glimmer of hope, but success is uncertain. Investors should closely monitor the company's financial health and any strategic moves to address this situation.

Market Research Analyst

The delisting of Loop Media from NYSE American reflects broader challenges in the streaming industry. Key points to consider:

• Market saturation: Increased competition in the streaming space may be impacting Loop Media's growth and profitability
• Investor sentiment: The low stock price suggests waning confidence in the company's business model or financial performance
• Industry trends: This move could indicate shifting dynamics in the CTV platform market, potentially favoring larger, more established players

Investors should assess Loop Media's unique value proposition and its ability to differentiate in a crowded market. The company's focus on business-oriented streaming services may offer a niche advantage, but execution will be critical.

GLENDALE, Calif.--(BUSINESS WIRE)-- Loop Media, Inc. ("Loop Media," the "Company") (NYSE American: LPTV), a leading multichannel streaming CTV platform that provides curated music videos, sports, news, premium entertainment channels and digital signage for businesses, reported that on August 8, 2024, it received notification from NYSE Regulation of the NYSE American LLC (the "NYSE American" or the "Exchange") that it had suspended trading of the Company’s common stock and of its determination to commence delisting proceedings of the Company’s common stock from the Exchange pursuant to Section 1003(f)(v) of the NYSE American Company Guide due to the low selling price of the Company’s common stock. The Company has a right to appeal the determination to the Exchange’s Listing Qualifications Panel, although there can be no assurance that any such appeal will be successful.

The Company’s common stock is expected to begin trading under its current trading symbol "LPTV" on the OTC Pink Current operated on the OTC Markets system effective with the open of the markets on August 9, 2024.

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 August 9, 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 U.S. licensed to stream music videos to businesses through its proprietary Loop® Player.

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 the United States, Canada, Australia, and New Zealand.

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 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/20240809747292/en/

Loop Media Investor Contact

ir@loop.tv

Loop Media Press Contact

Grant Genske

grant@loop.tv

626-610-6913

Source: Loop Media, Inc.

FAQ

Why is Loop Media (LPTV) being delisted from NYSE American?

Loop Media is facing delisting from NYSE American due to the low selling price of its common stock.

When will Loop Media's (LPTV) stock start trading on OTC Pink Current?

Loop Media's stock will begin trading on the OTC Pink Current on August 9, 2024.

Can Loop Media (LPTV) appeal the NYSE American delisting decision?

Yes, Loop Media can appeal the decision to the NYSE American Listing Qualifications Panel, but there is no assurance of a successful appeal.

What should Loop Media (LPTV) investors know about the delisting notice?

Investors should know that Loop Media has been notified of a trading suspension and delisting proceedings due to low stock prices, and the stock will trade on OTC Pink Current starting August 9, 2024.