Loop Industries Inc. filed SEC Form 8-K: Other Events

false 0001504678 0001504678 2025-08-13 2025-08-13

 

 

 

 

 

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On August 13, 2025, Ester Loop Infinite Technologies Private Limited (the “India JV”), a joint venture in which Loop Industries, Inc. holds a 50% interest, entered into an agreement with certain landowners and confirming parties (collectively, the “Sellers”) for the acquisition of approximately 93 acres of land in Gujarat, India (the “Project Land”). The Project Land is intended for the development, construction, and operation of an Infinite Loop™ manufacturing facility by the India JV.

 

Under the agreement, the Sellers will consolidate, acquire, and deliver clear, marketable title to the Project Land, obtain necessary governmental approvals, and construct a bituminous access road to the site. Upon satisfaction of these conditions, the Sellers will transfer the Project Land to the India JV. The Sellers are required to complete the acquisition, consolidation, transfer of title, and receipt of all necessary approvals within five months from the execution date of the agreement, unless extended by the India JV in its sole discretion.

 

The total purchase price is 9,072,000 Indian rupees (approximately US $103,720) per acre, payable in part as advance payments secured by equitable mortgages over specified land parcels, with the balance payable upon transfer of title. The agreement includes customary representations, warranties, covenants, and termination rights, including the India JV’s right to reject any land parcel that lacks necessary approvals, to terminate the agreement and be refunded all amounts paid under the agreement if the land parcels provided by the Sellers are not contiguous or if other specified events of default occur.

 

 

 

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.