On May 29, 2019, Loop Industries, Inc. entered into a Securities Purchase Agreement (“Purchase Agreement”) by and among the Company, Northern Private Capital Fund I Limited Partnership, an accredited investor (the “Purchaser”), and Daniel Solomita (“Solomita”), in his individual capacity and solely for the purposes of a voting arrangement, pursuant to which the Company has agreed to issue and sell to the Purchaser in a registered direct offering (“Offering”) an aggregate of 4,093,567 shares (“Shares”) of the Company’s common stock (the “Common Stock”) at a per share purchase price of $8.55 per share, for aggregate net proceeds of approximately $34.6 million, after deducting estimated offering expenses payable by the Company, of approximately $400,000. The issuance and sale of the Shares is registered under the Securities Act of 1933 pursuant to the Company’s Registration Statement on Form S-3 which was declared effective by the Securities and Exchange Commission (“SEC”) on August 10, 2018, supplemented by a prospectus supplement dated May 29, 2019. Concurrently with the Offering and pursuant to the Purchase Agreement, the Company has agreed to issue to the Purchaser options to purchase up to an additional 4,093,567 shares of the Company’s common stock at an exercise price of $11.00 per share, which will vest on December 15, 2019, and are exercisable for three years following the closing date of the Offering. The Offering closed on June 14.