Loop industries announces important milestone towards completing the previously announced reed management financing package and partnership

Societe generale to acquire 75% of reed management sas ("reed") at closing this would secure funding for reed's planned investments including €35 million financing package through jv partnership with loop montreal, qc / accesswire / july 31, 2024 / loop industries, inc. (nasdaq:loop) (the "company," "loop," "we," "us," or "our"), a clean technology company whose mission is to accelerate a circular plastics economy by manufacturing 100% recycled polyethylene terephthalate ("pet") plastic and polyester fiber, today provided an update regarding the company's joint venture ("jv") partnership and financing agreement with reed. this morning, reed and societe generale announced that societe generale has agreed to acquire 75% of reed and provide funding for reed initially amounting to €250 million, which can be further increased to €350 million.
LOOP Ratings Summary
LOOP Quant Ranking