Wilson Sonsini Goodrich & Rosati advised Loop Industries, Inc. on the deal.
Loop Industries, Inc., a leading innovator in sustainable plastics technology, announced the pricing of an underwritten public offering of 1,880,000 shares of its common stock at a price to the public of $12.75 per share pursuant to an effective Registration Statement on Form S-3 filed with the U.S. Securities and Exchange Commission. In addition, Loop Industries has granted the underwriter a 30-day option to purchase up to an additional 282,000 shares of its common stock. The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $24.0 million. The offering closed on or about September 23, 2020, subject to customary closing conditions. Loop Industries intends to use the net proceeds from the proposed offering for working capital and general corporate purposes, including continued investment in research and development for further innovation and funding ongoing operations.
The Wilson Sonsini Goodrich & Rosati team that represented Loop Industries in the transaction includes Megan Baier (Picture), Elisa Sielski, and Sarah Won.
Law Firms: Wilson Sonsini Goodrich & Rosati;
Clients: Loop Industries, Inc.;