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Friday, Dec 1, 2023

Loop Media to Trade on NYSE American

Loop Media Inc. will begin trading on the New York Stock Exchange American on Sept. 22.

The Glendale short-form video distributor will trade under the symbol LPTV.

Currently, Loop’s common stock trades on the OTC Pink Open Market, and upon the uplisting it will cease to trade on the OTC.

Loop will also undergo a three-to-one stock split effective Sept. 20.

After the split, every three shares of Loop’s common stock outstanding will be converted into one share of common stock, with any fractional shares rounded up to one whole share, according to a release from the company.

Accordingly, the number of shares of common stock outstanding following the reverse stock split will be reduced from 153,539,596 shares to approximately 51,179,865 shares, the release added.

Drawing on its heritage as the American Stock Exchange, NYSE American is an exchanged designed for growing companies, and offers investors greater choice in how they trade, according to the NYSE website.

Shares in Loop Media (LPTV) closed up  50 cents, or about 19&, to $3.14 on the over-the-counter market on Sept 20.

James Brock
James Brock
James Brock has worked in newsrooms around the world, including in New York, Paris, Abu Dhabi, Dubai, Houston, and Los Angeles. He began his career with a Newhouse News daily, where he served on the news desk and the editorial page. He was the copy chief for The New York Sun, and founded and edited the personal finance section for Abu Dhabi-based The National, among other positions. He has interviewed Anthony Bourdain, Tom Ford, Mark Cuban, and many other individuals, and has written and edited thousands of stories and articles.

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