SCHEDULE 13G/A: Dreamcatcher LLC Reduces Stake in Loop Media, Inc. to Below 5%
Beneficial Ownership Disclosure
Dreamcatcher LLC has filed an amended Schedule 13G, disclosing a reduced beneficial ownership stake of 4.68% in Loop Media, Inc.'s common stock.
Summary
- Dreamcatcher LLC, based in Tennessee, has filed an Amendment No. 2 to its Schedule 13G regarding its beneficial ownership in Loop Media, Inc.'s Common Stock.
- As of the event date of August 6, 2024, Dreamcatcher LLC beneficially owns 3,878,988 shares of Loop Media, Inc. Common Stock.
- This ownership represents 4.68% of the Issuer's class of securities, based on 82,953,569 shares of Common Stock issued and outstanding as of February 3, 2025, as reported in Loop Media's Form 10-Q for the quarter ended December 31, 2024.
- Dreamcatcher LLC holds sole voting power and sole dispositive power over all 3,878,988 shares.
- The filing certifies that the securities were not acquired and are not held for the purpose of changing or influencing the control of Loop Media, Inc.
- The current beneficial ownership reflects past corporate actions including the cash payment in full of the Issuer's convertible promissory note to Dreamcatcher LLC on May 9, 2022, a one-for-three reverse stock split effective September 20, 2022, and the automatic cashless exercise of warrants on September 26, 2022, in connection with a public offering.
Sentiment
Score: 4
Explanation: The sentiment is slightly negative due to the implied reduction in a significant holder's stake below the 5% threshold, which can be perceived as a lack of increasing confidence or a result of dilution, despite the filing being a routine disclosure.
Positives
- The Issuer (Loop Media, Inc.) made a cash payment in full of its convertible promissory note to Dreamcatcher LLC on May 9, 2022, which reduces the company's debt obligations.
Negatives
- Dreamcatcher LLC's beneficial ownership percentage has decreased to 4.68%, implying a reduction from a previous stake of 5% or more, which could be perceived as a significant holder reducing their position or being diluted.
Future Outlook
This filing is a disclosure of current beneficial ownership and does not contain forward-looking statements or guidance from Loop Media, Inc. or Dreamcatcher LLC regarding future operations or financial performance.
Industry Context
This Schedule 13G filing is a routine regulatory disclosure of a passive investment stake and does not provide specific insights into broader industry trends or competitive landscape for Loop Media, Inc.
Stakeholder Impact
- Shareholders: Provides transparency regarding the ownership structure and changes in significant holdings, indicating a reduction in a major investor's stake below the 5% threshold.
Key Dates
| Date | Description |
|---|---|
| 2022-05-09 | Cash payment in full of Issuer's convertible promissory note to Dreamcatcher LLC. |
| 2022-09-20 | Effective date of the one-for-three reverse stock split of Loop Media, Inc.'s Common Stock. |
| 2022-09-26 | Automatic cashless exercise of warrants in connection with Loop Media, Inc.'s public offering. |
| 2024-08-06 | Date of event which requires filing of this statement (beneficial ownership calculation date). |
| 2025-02-03 | Date as of which 82,953,569 shares of Common Stock were issued and outstanding, used for beneficial ownership percentage calculation (as per Issuer's Form 10-Q for Q ended Dec 31, 2024). |
| 2025-02-14 | Date of filing of this Schedule 13G Amendment No. 2. |
Keywords
Loop Media Inc., Dreamcatcher LLC, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Shareholder Stake, Corporate Governance, Investment Disclosure
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