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Loop Media Offers 2.5 Mln Shares At $5/shr In IPO

California-based short-form video company, Loop Media, announced their IPO on September 21 at $5 per share which will be available for trading for retailers from Spetember 22 under "LPTV" on the NYSE.

The company intends to raise $12 million and has offered 2.5 million shares for the initial public offering. The offering will run till September 26. The company has recently transitioned to a advertising-based business model and managed to draw a better revenue year-over-year, according to reports.

Roth Capital Partners is acting as the underwriters of the deal and will be offered a 30-day period to purchase an additional 360K shares at $5.

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