{"version":"company-facts.v1","source":"https://secwatch.observer","generated_at":"2026-07-10T19:53:47.958001+00:00","company":{"ticker":"LOCL","cik":1840780,"company_name":"Local Bounti Corporation/DE"},"pagination":{"limit":100,"returned":59,"next_cursor":null},"license":"Source filings: public domain (SEC EDGAR). 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0","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001628280-26-042819","anchor_url":"https://secwatch.observer/filing/0001628280-26-042819#claim-c0d478d457c7a7c026959014ad657644676e72ac","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000162828026042819/0001628280-26-042819-index.htm"},{"fact_type":"shareholder_vote","fact_key":"cc4904db79c3cc699b19efa1f0c9f62846461b6f","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2026-06-12T20:00:09+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2026-06-10","outcome":"passed","proposal_text":"Election of two Class II directors to serve for three years and until their successors are elected and qualified or until their earlier resignation or removal","proposal_type":"director_election","results":[{"broker_non_votes":"2,440,540","subject":"Mark J. 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The increase was primarily due to increased production and growth in sales from the Company's","confidence":0.92,"filing_url":"https://secwatch.observer/filing/0001840780-24-000014","anchor_url":"https://secwatch.observer/filing/0001840780-24-000014#claim-be86576539be7c3c5840c171acafb456ac66d501","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078024000014/0001840780-24-000014-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"b34d53892f9426214c596fff3799fef1317e7e0a","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2024-04-05T23:59:59+00:00","payload":{"company_response":null,"compliance_status":"deficient","cure_deadline":null,"deficiency_type":"market_value","delisting_effective_date":null,"exchange":"nyse","hearing_date":null,"immediate_listing_effect":null,"minimum_requirement":null,"notice_date":"2024-04-03","notice_type":"noncompliance_notice","plan_due_date":null,"raw_rule_text":null,"reported_value":null,"rule_numbers":["802.01B"],"rules_cited_in_text":true},"claim":"Local Bounti Corporation/DE received a nyse noncompliance notice notice regarding market value (rules 802.01B).","evidence_excerpt":"April 3, 2024, Local Bounti Corporation (the “Company”) received a written notice (the “Notice”) from the New York Stock Exchange (the “NYSE”) that the Company is not in compliance with the continued listing standards set forth in Rule 802.01B of the NYSE Listed Company Manual (the “Minimum Market Capitalization Standard”) because its average global market capitalization over a consecutive 30 trading-day period was less than $50 million and, at the same time, its last reported stockholders’ equity was less than $50 million. 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Adjusted gross margin percentage","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001840780-23-000043","anchor_url":"https://secwatch.observer/filing/0001840780-23-000043#claim-b95c790fadebd1f875d01e1bbcdbf2f2f7c4ebcb","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078023000043/0001840780-23-000043-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"dfbdae7ab94a1f61bcf4d221a22cb32bd8660826","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-10-20T23:59:59+00:00","payload":{"company_response":"evaluating whether to appeal","compliance_status":"delisting_pending","cure_deadline":null,"deficiency_type":"other","delisting_effective_date":null,"exchange":"nyse","hearing_date":null,"immediate_listing_effect":null,"minimum_requirement":"not suitable for listing due to abnormally low price levels","notice_date":"2023-10-18","notice_type":"delisting_notice","plan_due_date":null,"raw_rule_text":"Section 802.01D of the NYSE Listed Company Manual","reported_value":null,"rule_numbers":["802.01D"],"rules_cited_in_text":true},"claim":"Local Bounti Corporation/DE received a nyse delisting notice notice regarding other (rules 802.01D).","evidence_excerpt":"October 18, 2023, the NYSE provided written notice to the Company and publicly announced that NYSE Regulation has determined to commence proceedings to delist the Warrants and that the Warrants are no longer suitable for listing based on “abnormally low” price levels, pursuant to Section 802.01D of the NYSE Listed Company Manual. To effect the delisting, the NYSE will apply to the Securities and Exchange Commission to delist the Warrants upon completion of applicable procedures. The Company is still evaluating whether it will appeal the NYSE’s determination. Trading in the Company’s common sto","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001840780-23-000039","anchor_url":"https://secwatch.observer/filing/0001840780-23-000039#claim-dfbdae7ab94a1f61bcf4d221a22cb32bd8660826","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078023000039/0001840780-23-000039-index.htm"},{"fact_type":"debt_financing","fact_key":"dd3897b5fa40a927d3a9223662ca0ba77860acc8","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-10-06T23:59:59+00:00","payload":{"counterparty":"Cargill Financial Services International, Inc.","effective_date":"2023-10-02","event":"amendment","instrument_type":"credit_facility","interest_rate_text":null,"item_codes_triggered":["2.03"],"maturity_text":null,"principal_text":null},"claim":"Local Bounti Corporation/DE amended credit facility with Cargill Financial Services International, Inc..","evidence_excerpt":"Seventh Amendment to Credit Agreements As previously disclosed, in September 2021, Local Bounti Corporation (the “Company”), along with certain subsidiaries of the Company, and Cargill Financial Services International, Inc. (“Cargill Financial”) entered into (a) a credit agreement (the “Original Senior Credit Agreement”) and (b) a subordinated credit agreement (the “Original Subordinated Credit Agreement” and, together with the Original Senior Credit Agreement, the “Original Credit Agreements”).","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001840780-23-000036","anchor_url":"https://secwatch.observer/filing/0001840780-23-000036#claim-dd3897b5fa40a927d3a9223662ca0ba77860acc8","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078023000036/0001840780-23-000036-index.htm"},{"fact_type":"material_agreement","fact_key":"c1e73d01d8d3b78737ae466dd9394c0ef23d91dc","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-10-06T23:59:59+00:00","payload":{"action":"amendment","agreement_name":"Seventh Amendment to Credit Agreements","agreement_type":"credit_facility","counterparty":"Cargill Financial Services International, Inc.","effective_date":"2023-10-02","item_codes_triggered":["1.01"],"value_text":null},"claim":"Local Bounti Corporation/DE amended Seventh Amendment to Credit Agreements with Cargill Financial Services International, Inc. (effective 2023-10-02).","evidence_excerpt":"On October 2, 2023, the Company, along with certain subsidiaries of the Company, entered into a Seventh Amendment to Credit Agreements (the “Seventh Amendment”) with Cargill Financial to further amend the Credit Agreements.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001840780-23-000036","anchor_url":"https://secwatch.observer/filing/0001840780-23-000036#claim-c1e73d01d8d3b78737ae466dd9394c0ef23d91dc","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078023000036/0001840780-23-000036-index.htm"},{"fact_type":"earnings_release","fact_key":"33f7c7a17c5d21d1ccdee740b253661cc44fbbd2","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-08-09T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"reaffirmed","item_codes_triggered":["2.02"],"net_income_text":"$10.7 million","period_text":"for the three months ended June 30, 2023","report_date":"2023-08-09","result_type":"reported_results","revenue_text":"$7.2 million"},"claim":"Local Bounti Corporation/DE reported for the three months ended June 30, 2023 results: revenue $7.2 million, net income $10.7 million. Guidance reaffirmed.","evidence_excerpt":"of this process, we have taken immediate steps to optimize our resources and add key talent that will support our initiatives.\" Second Quarter 2023 Financial Summary • Sales of $7.2 million in the second quarter of 2023, as compared to $6.3 million in the prior year period. • Gross profit was $0.9 million in the second quarter of 2023. Adjusted gross margin","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001840780-23-000029","anchor_url":"https://secwatch.observer/filing/0001840780-23-000029#claim-33f7c7a17c5d21d1ccdee740b253661cc44fbbd2","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078023000029/0001840780-23-000029-index.htm"},{"fact_type":"executive_change","fact_key":"fecfa9b217","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-06-26T23:59:59+00:00","payload":{"action":"separate from employment","action_category":"departure","departure_tone":"routine","effective_date":"2023-07-07","interim":false,"role":"President","role_category":"president","successor_name":null,"successor_named":false},"claim":"Brian Cook departed as President at Local Bounti Corporation/DE.","evidence_excerpt":"On June 23, 2023, it was determined that Brian Cook will separate from employment with Local Bounti Corporation (the \"Company\") as the Company's President, effective July 7, 2023.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001193125-23-175102","anchor_url":"https://secwatch.observer/filing/0001193125-23-175102#claim-fecfa9b217","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523175102/0001193125-23-175102-index.htm"},{"fact_type":"shareholder_vote","fact_key":"b7da0a5ee39aaa28188a9233d0ac185e4deb4c78","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-06-23T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2023-06-20","outcome":"passed","proposal_text":"Ratification of WithumSmith+Brown, PC as independent registered public accounting firm for year ending December 31, 2023","proposal_type":"auditor_ratification","results":[{"broker_non_votes":"—","subject":null,"votes_abstain":"64,388","votes_against":"1,580,734","votes_for":"71,255,214","votes_withheld":null}]},"claim":"Local Bounti Corporation/DE shareholders approved Ratification of WithumSmith+Brown, PC as independent registered public accounting firm for year ending December 31, 2023 at the 2023-06-20 meeting.","evidence_excerpt":"Stockholders ratified the appointment of WithumSmith+Brown, PC as our independent registered public accounting firm for the year ending December 31, 2023, based on the following votes: For 71,255,214 Against 1,580,734 Abstain 64,388 Broker Non-Votes —","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-23-173822","anchor_url":"https://secwatch.observer/filing/0001193125-23-173822#claim-b7da0a5ee39aaa28188a9233d0ac185e4deb4c78","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523173822/0001193125-23-173822-index.htm"},{"fact_type":"shareholder_vote","fact_key":"1b36c8b013f78888bb322bd99244626a6d24c6d6","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-06-23T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2023-06-20","outcome":"unknown","proposal_text":"Election of two Class II directors","proposal_type":"director_election","results":[{"broker_non_votes":"20,368,112","subject":"Edward C. 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Nelson For 44,323,963 43,422,931 Against — — Withheld 8,208,261 9,109,293 Broker Non-Votes 20,368,112 20,368,112","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-23-173822","anchor_url":"https://secwatch.observer/filing/0001193125-23-173822#claim-1b36c8b013f78888bb322bd99244626a6d24c6d6","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523173822/0001193125-23-173822-index.htm"},{"fact_type":"governance_change","fact_key":"9e55052e3ac68357a4b94857be60dd50f093d509","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-06-15T23:59:59+00:00","payload":{"change_type":"charter_amendment","effective_date":"2023-06-15","item_codes_triggered":["5.03"],"summary_text":"Filed certificate of amendment to effect a 1-for-13 reverse stock split of common stock."},"claim":"Local Bounti Corporation/DE: Filed certificate of amendment to effect a 1-for-13 reverse stock split of common stock (effective 2023-06-15).","evidence_excerpt":"On June 14, 2023, Local Bounti Corporation (the “Company”) filed with the Secretary of State of the State of Delaware a certificate of amendment (the “Certificate of Amendment”) to the Company’s Certificate of Incorporation to effect a 1-for-13 reverse stock split (the “Reverse Stock Split”) of its common stock, par value $0.0001 per share (“Common Stock”).","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-23-167423","anchor_url":"https://secwatch.observer/filing/0001193125-23-167423#claim-9e55052e3ac68357a4b94857be60dd50f093d509","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523167423/0001193125-23-167423-index.htm"},{"fact_type":"executive_change","fact_key":"c56d54953d","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-05-26T23:59:59+00:00","payload":{"action":"appointed","action_category":"appointment","departure_tone":"not_applicable","effective_date":"2023-06-05","interim":false,"role":"Chief Executive Officer","role_category":"ceo","successor_name":null,"successor_named":false},"claim":"Anna Fabrega was appointed as Chief Executive Officer at Local Bounti Corporation/DE.","evidence_excerpt":"On May 22, 2023, the Board of Directors (the “Board”) of Local Bounti Corporation (“Local Bounti,” the “Company,” “we,” “us,” or “our”) appointed Anna Fabrega as the Chief Executive Officer and principal executive officer of the Company, effective as of June 5, 2023.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001193125-23-155453","anchor_url":"https://secwatch.observer/filing/0001193125-23-155453#claim-c56d54953d","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523155453/0001193125-23-155453-index.htm"},{"fact_type":"earnings_release","fact_key":"d18507dcccac88d23e6f15459b617d6da98e37ba","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-05-10T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"reaffirmed","item_codes_triggered":["2.02"],"net_income_text":"$23.5 million","period_text":"the three months ended March 31, 2023","report_date":"2023-05-10","result_type":"reported_results","revenue_text":"$6.7 million"},"claim":"Local Bounti Corporation/DE reported the three months ended March 31, 2023 results: revenue $6.7 million, net income $23.5 million. Guidance reaffirmed.","evidence_excerpt":"that we have the funding required to drive the business and achieve breakeven adjusted EBITDA by the end of 2024 or early 2025.\" First Quarter 2023 Financial Summary • Sales of $6.7 million in the first quarter of 2023, as compared to $0.3 million in the prior year period. • Gross profit was $0.3 million in the first quarter of 2023. Adjusted gross margin percentage","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001840780-23-000019","anchor_url":"https://secwatch.observer/filing/0001840780-23-000019#claim-d18507dcccac88d23e6f15459b617d6da98e37ba","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078023000019/0001840780-23-000019-index.htm"},{"fact_type":"debt_financing","fact_key":"3a91d2df6358b46dbeb7b8a7fec2a07f86812263","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-05-03T23:59:59+00:00","payload":{"counterparty":"STORE Master Funding XXXI, LLC","effective_date":"2023-04-27","event":"incurrence","instrument_type":"lease_obligation","interest_rate_text":"Base Annual Rent of $3,237,500 increasing by 3% annually on each adjustment date","item_codes_triggered":["2.03"],"maturity_text":"25-year initial term expiring April 30, 2048, with four 5-year extension options through April 30, 2068","principal_text":"$35 million multi-site sale and leaseback transaction"},"claim":"Local Bounti Corporation/DE incurred lease obligation of $35 million multi-site sale and leaseback transaction with STORE Master Funding XXXI, LLC at Base Annual Rent of $3,237,500 increasing by 3% annually on each adjustment date maturing 25-year initial term expiring April 30, 2048, with four 5-year extension options through April 30, 2068.","evidence_excerpt":"On April 27, 2023, Hollandia Real Estate, LLC (“Hollandia”), a wholly-owned subsidiary of Local Bounti Corporation (the “Company”), and STORE Master Funding XXXI, LLC (“STORE”) consummated a $35 million multi-site sale and leaseback transaction relating to the Carpinteria Facility and the Oxnard Facility","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-23-134439","anchor_url":"https://secwatch.observer/filing/0001193125-23-134439#claim-3a91d2df6358b46dbeb7b8a7fec2a07f86812263","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523134439/0001193125-23-134439-index.htm"},{"fact_type":"material_agreement","fact_key":"cf8fc59ae2a6491840420c01f2f47f61f026884f","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-05-03T23:59:59+00:00","payload":{"action":"entry","agreement_name":"Master Lease Agreement","agreement_type":"lease","counterparty":"STORE Master Funding XXXI, LLC","effective_date":"2023-04-27","item_codes_triggered":["1.01"],"value_text":"$35 million"},"claim":"Local Bounti Corporation/DE entered into Master Lease Agreement with STORE Master Funding XXXI, LLC valued at $35 million (effective 2023-04-27).","evidence_excerpt":"On April 27, 2023, Hollandia Real Estate, LLC (“Hollandia”), a wholly-owned subsidiary of Local Bounti Corporation (the “Company”), and STORE Master Funding XXXI, LLC (“STORE”) consummated a $35 million multi-site sale and leaseback transaction relating to the Carpinteria Facility and the Oxnard Facility (collectively, the “Hollandia Facilities”). In connection with the sale and leaseback transaction, Hollandia and STORE entered into a Master Lease Agreement (the “Lease”), dated April 27, 2023 (the “Effective Date”).","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-23-134439","anchor_url":"https://secwatch.observer/filing/0001193125-23-134439#claim-cf8fc59ae2a6491840420c01f2f47f61f026884f","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523134439/0001193125-23-134439-index.htm"},{"fact_type":"shareholder_vote","fact_key":"cb69101cfb5c6df7eef0351aeae8d8a8a869df79","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-04-28T23:59:59+00:00","payload":{"item_codes_triggered":["5.07"],"meeting_date":"2023-04-26","outcome":"passed","proposal_text":"To approve an amendment to Local Bounti's Certificate of Incorporation, to, at the discretion of Local Bounti's Board of Directors, effect a reverse stock split of the shares of Local Bounti's common stock, at any time prior to June 30, 2024, at a ratio within a range of 1-for-2 to 1-for-25, with th","proposal_type":"reverse_split","results":[{"broker_non_votes":"0","subject":null,"votes_abstain":"16,315","votes_against":"180,101","votes_for":"67,771,527","votes_withheld":"0"}]},"claim":"Local Bounti Corporation/DE shareholders approved To approve an amendment to Local Bounti's Certificate of Incorporation, to, at the discretion of Local Bounti's Board of Directors, effect a reverse stock split of the shares of Local Bounti's common stock, at any time prior to June 30, 2024, at a ratio within a range of 1-for-2 to 1-for-25, with th at the 2023-04-26 meeting.","evidence_excerpt":"On April 26, 2023, Local Bounti Corporation (“Local Bounti,” “we,” “us,” or “our”) held its special meeting of stockholders (the “Special Meeting”).","confidence":0.99,"filing_url":"https://secwatch.observer/filing/0001193125-23-127513","anchor_url":"https://secwatch.observer/filing/0001193125-23-127513#claim-cb69101cfb5c6df7eef0351aeae8d8a8a869df79","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523127513/0001193125-23-127513-index.htm"},{"fact_type":"earnings_release","fact_key":"418cc6de5af03c62c29e2f27295405dc31202b07","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-03-29T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"raised","item_codes_triggered":["2.02"],"net_income_text":"$111.1 million in 2022","period_text":"the three and twelve months ended December 31, 2022","report_date":"2023-03-29","result_type":"reported_results","revenue_text":"$19.5 million in 2022"},"claim":"Local Bounti Corporation/DE reported the three and twelve months ended December 31, 2022 results: revenue $19.5 million in 2022, net income $111.1 million in 2022. Guidance raised.","evidence_excerpt":"On March 29, 2023, Local Bounti Corporation issued a press release announcing its financial results for the three and twelve months ended December 31, 2022.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001840780-23-000008","anchor_url":"https://secwatch.observer/filing/0001840780-23-000008#claim-418cc6de5af03c62c29e2f27295405dc31202b07","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078023000008/0001840780-23-000008-index.htm"},{"fact_type":"executive_change","fact_key":"0ba1f34635","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-03-21T23:59:59+00:00","payload":{"action":"appointed","action_category":"appointment","departure_tone":"not_applicable","effective_date":"2023-05-15","interim":false,"role":"Class III director","role_category":"director","successor_name":null,"successor_named":false},"claim":"Jennifer Carr-Smith was appointed as Class III director at Local Bounti Corporation/DE.","evidence_excerpt":"On March 17, 2023, the Board of Directors (the “Board”) of Local Bounti Corporation (the “Company”), upon the recommendation of its Nominating and Corporate Governance Committee, expanded the Board by one seat and appointed Jennifer Carr-Smith as a Class III director and to the Compensation Committee of the Board, in each case effective as of May 15, 2023.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001193125-23-075835","anchor_url":"https://secwatch.observer/filing/0001193125-23-075835#claim-0ba1f34635","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523075835/0001193125-23-075835-index.htm"},{"fact_type":"earnings_release","fact_key":"18232614008ce75fccc362aebd53fdc3e0fd0abb","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-03-17T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"none","item_codes_triggered":["2.02"],"net_income_text":"$111.1 million","period_text":"the year ended December 31, 2022","report_date":"2023-03-17","result_type":"preliminary_results","revenue_text":"$19.5 million"},"claim":"Local Bounti Corporation/DE reported the year ended December 31, 2022 results: revenue $19.5 million, net income $111.1 million.","evidence_excerpt":"For the full year ended December 31, 2022, the Company generated sales of $19.5 million, adjusted gross margin of 38%, net loss of $111.1 million, and adjusted EBITDA loss of $29.8 million.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-23-074037","anchor_url":"https://secwatch.observer/filing/0001193125-23-074037#claim-18232614008ce75fccc362aebd53fdc3e0fd0abb","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523074037/0001193125-23-074037-index.htm"},{"fact_type":"debt_financing","fact_key":"16ed651df037c558cd5d654fa8b762e40d1cb47d","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-03-17T23:59:59+00:00","payload":{"counterparty":"Cargill Financial Services International, Inc.","effective_date":"2023-03-13","event":"amendment","instrument_type":"credit_facility","interest_rate_text":null,"item_codes_triggered":["2.03"],"maturity_text":null,"principal_text":"$170.0 million"},"claim":"Local Bounti Corporation/DE amended credit facility of $170.0 million with Cargill Financial Services International, Inc..","evidence_excerpt":"in each of the Credit Agreements from $11.0 million to $1.0 million. The aggregate amount of outstanding loans and undrawn commitments under the Credit Agreements remains at $170.0 million (plus interest paid in kind). All capitalized terms above that are not defined elsewhere have the meanings ascribed to them in the Fifth Amendment or the Credit Agreements, as","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-23-074037","anchor_url":"https://secwatch.observer/filing/0001193125-23-074037#claim-16ed651df037c558cd5d654fa8b762e40d1cb47d","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523074037/0001193125-23-074037-index.htm"},{"fact_type":"material_agreement","fact_key":"ca850414f3bb5f31fbec12b75f6cb7497f70b1f0","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-03-17T23:59:59+00:00","payload":{"action":"amendment","agreement_name":"Fifth Amendment to Credit Agreements","agreement_type":"credit_facility","counterparty":"Cargill Financial Services International, Inc.","effective_date":"2023-03-13","item_codes_triggered":["1.01"],"value_text":null},"claim":"Local Bounti Corporation/DE amended Fifth Amendment to Credit Agreements with Cargill Financial Services International, Inc. (effective 2023-03-13).","evidence_excerpt":"On March 13, 2023, the Company, along with certain subsidiaries of the Company, entered into a Fifth Amendment to Credit Agreements (the \"Fifth Amendment\") with Cargill Financial to further amend the Credit Agreements.","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001193125-23-074037","anchor_url":"https://secwatch.observer/filing/0001193125-23-074037#claim-ca850414f3bb5f31fbec12b75f6cb7497f70b1f0","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523074037/0001193125-23-074037-index.htm"},{"fact_type":"exchange_compliance_notice","fact_key":"fe130bd3de19fcb04cdba357badea3a38a1be1a7","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-03-03T23:59:59+00:00","payload":{"company_response":"Company intends to notify NYSE of intent to cure and consider alternatives including reverse stock split","compliance_status":"deficient","cure_deadline":null,"deficiency_type":"minimum_bid_price","delisting_effective_date":null,"exchange":"nyse","hearing_date":null,"immediate_listing_effect":null,"minimum_requirement":"average closing price of at least $1.00 over 30 consecutive trading days","notice_date":"2023-02-28","notice_type":"deficiency_notice","plan_due_date":null,"raw_rule_text":"Section 802.01C of the NYSE Listed Company Manual","reported_value":null,"rule_numbers":["802.01C"],"rules_cited_in_text":true},"claim":"Local Bounti Corporation/DE received a nyse deficiency notice notice regarding minimum bid price (rules 802.01C).","evidence_excerpt":"February 28, 2023, Local Bounti Corporation (the “ Company ”) received written notice from the New York Stock Exchange (the “ NYSE ”) that it is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the Company’s common stock was less than $1.00 over a consecutive 30 trading-day period. The notice has no immediate effect on the listing of the Company’s common stock, which will continue to be listed and traded on the NYSE, subject to the Company’s compliance with other NYSE continued listing standards. In accordance with the NYSE Listed Co","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001840780-23-000005","anchor_url":"https://secwatch.observer/filing/0001840780-23-000005#claim-fe130bd3de19fcb04cdba357badea3a38a1be1a7","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078023000005/0001840780-23-000005-index.htm"},{"fact_type":"material_agreement","fact_key":"791cd8b804e2b04f6fc04a3b4b6a5599de260f3f","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-01-06T23:59:59+00:00","payload":{"action":"amendment","agreement_name":"Fourth Amendment to Credit Agreements","agreement_type":"credit_facility","counterparty":"Cargill Financial Services International, Inc.","effective_date":"2023-01-06","item_codes_triggered":["1.01"],"value_text":"$11.0 million"},"claim":"Local Bounti Corporation/DE amended Fourth Amendment to Credit Agreements with Cargill Financial Services International, Inc. valued at $11.0 million (effective 2023-01-06).","evidence_excerpt":"On January 6, 2023, the Company, along with certain subsidiaries of the Company, entered into a Fourth Amendment to Credit Agreements (the “Fourth Amendment”) with Cargill Financial to further amend the Credit Agreements, as amended by the Third Amendment.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001193125-23-003676","anchor_url":"https://secwatch.observer/filing/0001193125-23-003676#claim-791cd8b804e2b04f6fc04a3b4b6a5599de260f3f","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523003676/0001193125-23-003676-index.htm"},{"fact_type":"material_agreement","fact_key":"37c65a363afdb958ee67a858c2916d2bb84744dc","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2023-01-06T23:59:59+00:00","payload":{"action":"amendment","agreement_name":"Third Amendment to Credit Agreements","agreement_type":"credit_facility","counterparty":"Cargill Financial Services International, Inc.","effective_date":"2022-12-30","item_codes_triggered":["1.01"],"value_text":"$170.0 million"},"claim":"Local Bounti Corporation/DE amended Third Amendment to Credit Agreements with Cargill Financial Services International, Inc. valued at $170.0 million (effective 2022-12-30).","evidence_excerpt":"On December 30, 2022, the Company, along with certain subsidiaries of the Company, entered into a Third Amendment to Credit Agreements (the “Third Amendment”) with Cargill Financial to further amend the Credit Agreements.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001193125-23-003676","anchor_url":"https://secwatch.observer/filing/0001193125-23-003676#claim-37c65a363afdb958ee67a858c2916d2bb84744dc","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523003676/0001193125-23-003676-index.htm"},{"fact_type":"executive_change","fact_key":"9aba7d1358","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2022-12-16T23:59:59+00:00","payload":{"action":"separated","action_category":"departure","departure_tone":"routine","effective_date":"2022-12-12","interim":false,"role":"Chief Operating Officer","role_category":"coo","successor_name":null,"successor_named":false},"claim":"Mark McKinney departed as Chief Operating Officer at Local Bounti Corporation/DE.","evidence_excerpt":"On December 12, 2022, it was determined that Mark McKinney will separate from employment with Local Bounti Corporation (the “Company”) as the Company’s Chief Operating Officer, effective immediately.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001840780-22-000041","anchor_url":"https://secwatch.observer/filing/0001840780-22-000041#claim-9aba7d1358","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078022000041/0001840780-22-000041-index.htm"},{"fact_type":"earnings_release","fact_key":"d46c1a66362296e6c915794283f2b173e2f4eebc","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2022-11-10T23:59:59+00:00","payload":{"eps_text":null,"guidance_signal":"reaffirmed","item_codes_triggered":["2.02"],"net_income_text":"Net loss was $27.1 million","period_text":"the quarter ended September 30, 2022","report_date":"2022-11-10","result_type":"reported_results","revenue_text":"$6.3 million"},"claim":"Local Bounti Corporation/DE reported the quarter ended September 30, 2022 results: revenue $6.3 million, net income Net loss was $27.1 million. Guidance reaffirmed.","evidence_excerpt":"as expressly set forth by specific reference in such a filing. \n\n--- EX-99.1 (EX-99.1) ---\n\nLocal Bounti Announces Third Quarter 2022 Financial Results Third quarter revenue of $6.3 million, compared to $0.2 million in the prior year period Previously announced 5-year offtake agreement with Sam's Club for Local Bounti's leafy greens production Reaffirms full year","confidence":0.9,"filing_url":"https://secwatch.observer/filing/0001840780-22-000016","anchor_url":"https://secwatch.observer/filing/0001840780-22-000016#claim-d46c1a66362296e6c915794283f2b173e2f4eebc","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078022000016/0001840780-22-000016-index.htm"},{"fact_type":"executive_change","fact_key":"3a94044505","cik":1840780,"ticker":"LOCL","company_name":"Local Bounti Corporation/DE","filed_at":"2022-04-07T23:59:59+00:00","payload":{"action":"appointed","action_category":"appointment","departure_tone":"not_applicable","effective_date":"2022-04-04","interim":false,"role":"President","role_category":"president","successor_name":null,"successor_named":false},"claim":"Brian Cook was appointed as President at Local Bounti Corporation/DE.","evidence_excerpt":"Following the Closing, effective April 4, 2022, the Company announced that Brian Cook has been named President of the Company, reporting to co-Chief Executive Officers Craig Hurlbert and Travis Joyner.","confidence":0.95,"filing_url":"https://secwatch.observer/filing/0001193125-22-099024","anchor_url":"https://secwatch.observer/filing/0001193125-22-099024#claim-3a94044505","edgar_index_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312522099024/0001193125-22-099024-index.htm"}]}