{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-22-099024","form_type":"8-K","ticker":"LOCL","cik":"0001840780","company_name":"Local Bounti Corporation/DE","filed_at":"2022-04-07T23:59:59+00:00","discovered_at":"2026-05-14T18:04:02.755185+00:00","generated_at":"2026-06-26T08:54:36.773658+00:00","sec_items":["2.01","2.03","3.02","5.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Local Bounti closes $122.5M acquisition of Pete's; appoints former Pete's CEO as President","bullets":["Acquired all equity of Hollandia Produce (Pete's) for $122.5M: $92.5M cash + 5,654,600 shares of common stock at ~$5.30/share.","Property acquisition of Pete's leased properties from STORE for $25.8M funded separately at closing.","Cargill facility amended: aggregate commitment reduced to $170M, interest rates increased by 2%, minimum liquidity covenant lowered to $20M.","Brian Cook (ex-Pete's CEO) appointed President effective April 4, 2022; annual base salary $400K and 500K RSUs vesting over 4 years.","Management states deal is immediately accretive and expects margin expansion from integrating Stack & Flow Technology into Pete's facilities."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-22-099024","json":"https://secwatch.observer/filing/0001193125-22-099024.json","markdown":"https://secwatch.observer/filing/0001193125-22-099024.md","text":"https://secwatch.observer/filing/0001193125-22-099024.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1840780/000119312522099024/0001193125-22-099024-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1840780/000119312522099024/d241106d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-26T08:54:36.773658+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3a94044505","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.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312522099024/0001193125-22-099024-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"President"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}