Shares of this Streaming Firm On A Tear on Plans to UpList to Senior Exchange

Shares of this Streaming Firm On A Tear on Plans to UpList to Senior Exchange

By: Tomas Ronolski - News

Monday, September 19, 2022

UpListing to a major exchange provides firms with many benefits, including enhanced analyst coverage, increased visibility and the possibility of being included in major indices, as well as better funding terms. This firm’s shares are already on the uptick as plans to move to a senior exchange. 

Multi-channel streaming platform Loop Media, Inc. (OTC: LPTV) announced it would undergo an uplist to the NYSE American Exchange this week using the same ticker “LPTV”, according to the firm’s press release. The stock is publicly traded on the OTC Pink Open Market, and following the uplisting, trading of Loop’s common stock on the OTC Pink Open Market will cease.

The firm provides curated music video and branded entertainment channels for businesses and consumers. Prior to the pricing of the shares the firm will consummate a reverse stock split of its outstanding shares of common stock on a 1-for-3 basis, expected to become effective around 4:01 PM ET on September 20, 2022. The firm's common stock is expected to begin trading on the OTC Pink Open Market on a split-adjusted basis under the temporary ticker symbol “LPTVD” at market open on September 21, 2022. The fifth character “D” will remain appended to Loop’s symbol for 20 business days or until Loop is listed on the NYSE American, whichever comes first, at which point Loop’s trading symbol will revert back to “LPTV.”

Shares were trading up over 12 percent in mid morning trade.

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