Loop Industries Says Reviewing Contingency Plans For Bridge Financing In The Event That Reed Closing Extends Beyond End Of Q2
Portfolio Pulse from Benzinga Newsdesk
Loop Industries is reviewing contingency plans for bridge financing if the closing of its agreement with Reed Management SAS extends beyond the end of Q2. The company remains confident in meeting the closing conditions and expects the transaction to close by the end of Q2.
July 15, 2024 | 9:41 pm
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Loop Industries is preparing contingency plans for bridge financing in case the closing of its agreement with Reed Management SAS extends beyond Q2. The company remains confident in meeting the closing conditions and expects the transaction to close by the end of Q2.
The news indicates that Loop Industries is proactively planning for potential delays in its financing deal with Reed Management SAS. While the company remains confident in meeting the closing conditions, the need for contingency plans introduces some uncertainty. This could lead to neutral short-term price movement as investors await further updates.
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