Loop Media Announces NYSE American Notice of Delisting
August 09 2024 - 8:30AM
Business Wire
Loop Media, Inc. ("Loop Media," the "Company") (NYSE American:
LPTV), a leading multichannel streaming CTV platform that provides
curated music videos, sports, news, premium entertainment channels
and digital signage for businesses, reported that on August 8,
2024, it received notification from NYSE Regulation of the NYSE
American LLC (the "NYSE American" or the "Exchange") that it had
suspended trading of the Company’s common stock and of its
determination to commence delisting proceedings of the Company’s
common stock from the Exchange pursuant to Section 1003(f)(v) of
the NYSE American Company Guide due to the low selling price of the
Company’s common stock. The Company has a right to appeal the
determination to the Exchange’s Listing Qualifications Panel,
although there can be no assurance that any such appeal will be
successful.
The Company’s common stock is expected to begin trading under
its current trading symbol "LPTV" on the OTC Pink Current operated
on the OTC Markets system effective with the open of the markets on
August 9, 2024.
Additional details regarding the Acceptance Letter from the NYSE
American are included in, and the description above is qualified in
its entirety by, Loop Media's Current Report on Form 8-K filed with
the SEC on August 9, 2024, which will be made available under
"Investors" – "SEC Filings" at www.loop.tv.
About Loop Media, Inc.
Loop Media, Inc. ("Loop®") (NYSE American: LPTV) is a leading
connected television (CTV) / streaming / digital out-of-home TV and
digital signage platform optimized for businesses, providing music
videos, news, sports, and entertainment channels through its Loop®
TV service. Loop Media is the leading company in the U.S. licensed
to stream music videos to businesses through its proprietary Loop®
Player.
Loop® TV's digital video content is streamed to millions of
viewers in CTV / streaming / digital out of home locations
including bars/restaurants, office buildings, retail businesses,
college campuses, airports, among many other venues in the United
States, Canada, Australia, and New Zealand.
Loop® TV is fueled by one of the largest and most important
premium short-form entertainment libraries that includes music
videos, movie trailers, branded content, and live performances.
Loop Media's non-music channels cover a wide variety of genres and
moods and include movie trailers, sports highlights, lifestyle and
travel videos, viral videos, and more. Loop Media's streaming
services generate revenue from programmatic and direct advertising,
and subscriptions.
To learn more about Loop Media products and applications, please
visit us online at Loop.tv.
Follow us on social:
Instagram: @loopforbusiness
X (Twitter): @loopforbusiness
LinkedIn: https://www.linkedin.com/company/loopforbusiness/
Safe Harbor Statement and Disclaimer
This news release includes "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including, but not limited to, statements regarding the
Company's intention to regain compliance with the listing
requirements of the NYSE American and its ability to do so,
cost-cutting measures, exploration of strategic alternatives and
financing opportunities, expected performance, ability to compete
in the highly competitive markets in which it operates, ability to
develop talent and attract future talent, the success of strategic
actions Loop Media is taking, and the impact of strategic
transactions. Forward-looking statements give our current
expectations, opinions, beliefs or forecasts of future events and
performance. A statement identified by the use of forward-looking
words including "will," "may," "expects," "projects,"
"anticipates," "plans," "believes," "estimate," "should," and
certain of the other foregoing statements may be deemed
forward-looking statements. Although Loop Media believes that the
expectations reflected in such forward-looking statements are
reasonable, these statements involve risks and uncertainties that
may cause actual future activities and results to be materially
different from those suggested or described in this news release.
Investors are cautioned that any forward-looking statements are not
guarantees of future performance and actual results or developments
may differ materially from those projected. The forward-looking
statements in this press release are made as of the date hereof.
Loop Media takes no obligation to update or correct its own
forward-looking statements, except as required by law, or those
prepared by third parties that are not paid for by Loop Media. Loop
Media's Securities and Exchange Commission filings are available at
www.sec.gov.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240809747292/en/
Loop Media Investor Contact ir@loop.tv
Loop Media Press Contact Grant Genske grant@loop.tv
626-610-6913
Loop Media (AMEX:LPTV)
Historical Stock Chart
From Nov 2024 to Dec 2024
Loop Media (AMEX:LPTV)
Historical Stock Chart
From Dec 2023 to Dec 2024