Bruce Cassidy - Jun 10, 2024 Form 4 Insider Report for Loop Media, Inc. (LPTV)

Signature
/s/ Joanne Lytle, Attorney-in Fact for Bruce A. Cassidy, Sr.
Stock symbol
LPTV
Transactions as of
Jun 10, 2024
Transactions value $
$0
Form type
4
Date filed
6/12/2024, 05:59 PM
Previous filing
Dec 18, 2023
Next filing
Sep 20, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction LPTV Pre-Funded Warrant to Purchase Common Stock Purchase +4.35M 4.35M Jun 10, 2024 Common Stock, par value $0.0001 per share 4.35M $0.23 By Excel Family Partners, LLLP F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to a securities purchase agreement between the Issuer and Excel Family Partners, LLLP ("Excel"), an entity managed by the Reporting Person, the Issuer agreed to issue and sell to Excel in a private placement a pre-funded warrant (the "Pre-Funded Warrant") at a price of $0.2308 per underlying share, which is immediately exercisable into shares of the Issuer's common stock, par value $0.0001 per share (the "Common Stock"), at an exercise price of $0.0001 per share and shall expire when exercised in full. The Pre-Funded Warrant cannot be exercised by the Reporting Person if, after giving effect thereto, the Reporting Person would beneficially own, as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, more than 29.99% of the outstanding shares of Common Stock.
F2 Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, if any, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.