Item 1A. Risk Factors
ITEM 1A. RISK FACTORS
We are subject to various risks and uncertainties in the course of our business. Risk factors relating to us are set forth under “Risk Factors” in our 2026 Annual Report. Except as set forth below, there have been no material changes to the risk factors disclosed in our 2026 Annual Report during the three months ended August 31, 2026. The risk factor set forth below updates, and should be read together with, the risk factors described in our 2026 Annual Report.
We have received notices from Nasdaq that we are not in compliance with the minimum market value of listed securities and minimum bid price requirements for continued listing on The Nasdaq Global Market. If we are unable to regain compliance or otherwise maintain a Nasdaq listing, the liquidity and market price of our common stock and our ability to raise capital could be adversely affected.
Our common stock is currently listed on The Nasdaq Global Market under the symbol “LOOP.” Continued listing on The Nasdaq Global Market requires us to satisfy certain listing standards, including a minimum market value of listed securities (“MVLS”) and a minimum bid price.
On July 24, 2026, the Company received a notice from Nasdaq indicating that it was not in compliance with the minimum market value of listed securities requirement because its market value of listed securities had remained below $50 million for 30 consecutive business days. The Company has until January 20, 2027 to regain compliance.
On July 27, 2026, the Company received a separate notice from Nasdaq indicating that it was not in compliance with the minimum bid price requirement because the closing bid price of its common stock had remained below $1.00 for 30 consecutive business days. The Company has until January 25, 2027 to regain compliance.
The notices have no immediate effect on the listing or trading of our common stock. However, there can be no assurance that we will regain compliance with either requirement within the applicable compliance period. If we do not regain compliance with the MVLS requirement or the minimum bid price requirement timely, Nasdaq will notify us that our securities are subject to delisting.
We intend to monitor our MVLS and the closing bid price of our common stock and to consider available options to regain compliance. As an alternative to regaining compliance with the MVLS requirement, we may apply to transfer the listing of our common stock to The Nasdaq Capital Market. If we do not regain compliance with the minimum bid price requirement during the initial compliance period, we may be eligible for additional time, subject to additional requirements. Any transfer to The Nasdaq Capital Market would be subject to Nasdaq approval and to our satisfying that market’s applicable listing requirements, and any additional compliance period for the minimum bid price requirement may be conditioned on, among other things, our ability to effect a reverse stock split if necessary. There can be no assurance that any of these alternatives will be available to us or will enable us to regain or maintain compliance with applicable Nasdaq listing requirements.
If our common stock were ultimately delisted from Nasdaq, it could reduce the liquidity and market price of our common stock, reduce the number of investors willing to hold or acquire our common stock, and make it more difficult for us to raise additional capital, which could adversely affect our business and financial condition.
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Table of Contents
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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