- The stock price of Loop Media (LPTV) surged by over 75% intraday today. These are some details you should know.
The stock price of Loop Media (LPTV) surged by over 75% intraday today.
Details: Easier today, Loop Media announced the pricing of an underwritten public offering of 2.4 million shares of its common stock at a public offering price of $5 per share. And Loop Media has granted the underwriter a 30-day over-allotment option to purchase up to an additional 360,000 shares of common stock at the public offering price, less underwriting discounts and commissions. This offering is expected to close on or about September 26, 2022, subject to the satisfaction of customary closing conditions.
In connection with the offering, Loop Media was approved for the listing of its common stock on the NYSE American and will commence trading on the NYSE American under the ticker symbol “LPTV” today, Thursday, September 22, 2022.
Proceeds: Gross proceeds to Loop Media from the offering are expected to be approximately $12.0 million, before deducting underwriting discounts and commissions and estimated offering expenses, but excluding any exercise of the underwriter’s over-allotment option.
Manager: Roth Capital Partners is acting as the sole manager.