Loop Media, Inc. (LPTV) to Raise $12 Million in IPO

Loop Media, Inc. (LPTV) plans to raise $12 million in an initial public offering on Thursday, August 4th, IPO Scoop reports. The company will be issuing 4,400,000 shares at a price of $2.71 per share.

In the last year, Loop Media, Inc. generated $5.1 million in revenue and had a net loss of $31 million. The company has a market cap of $453.3 million.

Roth Capital Partners acted as the underwriter for the IPO.

Loop Media, Inc. provided the following description of their company for its IPO: “(Note: This is NOT an IPO. This is an NYSE – American uplisting from the Pink Open Market of the OTC Markets Group Inc. The last reported sale price of our common stock (symbol “LPTV”) on July 19, 2022, was $2.26 per share. The assumed offering price for our public offering is $2.71 per share, which was the Pink Sheet closing price for our stock on July 1, 2022. We are offering 4,428,044 shares of our common stock pursuant to this prospectus.) We are a multichannel digital video platform media company that uses marketing technology, or “MarTech,” to generate our revenue and offer our services. Our technology and vast library of videos and licensed content enable us to curate and distribute short-form videos to out-of-home (“OOH”) dining, hospitality, retail and other locations and venues to enable them to inform, entertain and engage their customers. Our technology provides third-party advertisers with a targeted marketing and promotional tool for their products and services and, in certain instances, allows us to measure the number of potential viewers of such advertising and promotional materials. We also allow OOH customers to access our service without advertisements by paying a monthly subscription fee. In addition to providing services to OOH venue operators, we currently provide our services direct to consumers (“D2C”) in their homes on connected TVs (“CTVs”) and on their mobile devices. We offer self-curated music video content licensed from major and independent record labels, as well as movie, television and video game trailers, kid-friendly videos, viral videos, drone footage, news headlines, and lifestyle and atmospheric channels. We distribute our content and advertising inventory to OOH locations primarily through (i) our owned and operated platform (“O&O Network”) of Loop Media-designed “small-box” streaming Android media players (“Loop Players”) and legacy ScreenPlay computers and (ii) through screens on digital networks owned and operated by third parties (“Partner Network”, and together with the O&O Network, the “Loop Network”). We moved to an advertising-based model and ramped up distribution of Loop Players for our O&O Network starting in early 2021. **Note: Revenue and net loss figures are for the 12 months ended Sept. 30, 2021. (Note: Loop Media, Inc. disclosed terms for its public offering (NYSE – American uplisting) in an S-1/A filing dated July 21, 2022. The S-1 was filed in January 2022.)  “.

Loop Media, Inc. was founded in 2016 and has 66 employees. The company is located at 700 N. Central Ave., Suite 430 Glendale, CA 91203 and can be reached via phone at (213) 436-2100 or on the web at http://www.loop.tv/.

Want More Great Investing Ideas?

Receive News & Ratings for Loop Media Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loop Media Inc. and related companies with MarketBeat.com's FREE daily email newsletter.