Loop Industries Secures Significant Funding With Reed Partnership, Societe Generale Invests €250M to Acquire 75% of Reed
Loop Industries Secures Significant Funding With Reed Partnership, Societe Generale Invests €250M to Acquire 75% of Reed
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. This transaction, which is subject to customary closing conditions including regulatory approval, would secure Reed's funding for its planned investments, including its previously announced JV partnership for the European deployment of Loop's technology and a tiered financing package for Loop as disclosed in the agreement between Reed and Loop announced on May 30th, 2024.
Loop Industries, Inc.（納斯達克：LOOP）（以下簡稱“公司”、“Loop”、“我們”、“我們的”），是一家清潔科技公司，旨在通過製造100％回收利用的聚乙烯 terephthalate（“PET”）塑料和滌綸纖維，加速實現循環塑料經濟。今天，合作伙伴Reed的JV合作伙伴關係和融資協議方面的最新情況得到更新。今天早上，Reed和Societe Generale宣佈，Societe Generale已經同意收購Reed的75％的股份，併爲Reed提供最初爲25000萬歐元的資金，這可以進一步增加到35000萬歐元。該交易要符合慣例的交割條件，包括監管批准，爲Reed的計劃投資提供資金保障，包括其先前宣佈的Loop技術的歐洲部署JV合作伙伴關係和鎖定在2024年5月30日公佈的Reed和Loop之間的協議中的分層融資方案。
Under the terms of the agreement between Loop and Reed, Reed would provide capital as follows:
根據Loop和Reed之間的協議，Reed將提供以下資金：
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€10M investment in a Convertible Preferred Security to be issued by Loop, which contains a 13% PIK dividend rate and 5-year term, which may convert into Loop stock at $4.75 per share or redeemed in cash
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€25M loan to Loop in two equal tranches - first tranche to support global deployment opportunities paid at closing and second tranche to support European deployment opportunities paid in the following 12 months with both tranches having a 13% PIK interest rate and 3-year term
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以以下方式向Loop提供1,000萬歐元的可轉換優先證券投資，該投資包含13％的股息率和5年期限，可以以每股4.75美元的價格轉換爲Loop股票或兌換成現金
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以兩個相等的分期方式向Loop提供2500萬歐元的貸款 - 首期用於支持全球部署機會，支付時限爲12個月後的第二期用於支持歐洲部署機會，兩個分期均採用13％的股息率和3年期限
The Reed announcement today is a significant step towards implementing Loop's transaction with Reed. Loop expects to fulfill the remaining closing condition of the transaction within the timeframe for the closing of the transaction between Reed and Societe Generale. Loop is progressing well in discussions to obtain government and other financing.
今日Reed的公告是實施與Reed的Loop交易的重要一步。 Loop希望在Reed和Societe Generale之間的交易閉合期間履行剩餘的交割條件。 Loop正在談判中獲得政府和其他融資，進展順利。
譯文內容由第三人軟體翻譯。