Local Bounti raises $23.3M in PIPE financing at $2.50/share from Fidelity, BNP Paribas, others

Local Bounti Corporation/DE

Gross proceeds $23.3M from 9.32M shares at $2.50/share; initial closing of $15.3M for 6.12M shares.
Key investors include Fidelity Management & Research Company, BNP Paribas, and insiders (280k shares).
Remaining 3.2M shares to close in early Nov 2022 subject to registration statement effectiveness.
Proceeds for general corporate purposes and to expand CEA footprint using Stack & Flow Technology.

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