{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-003676","form_type":"8-K","ticker":"LOCL","cik":"0001840780","company_name":"Local Bounti Corporation/DE","filed_at":"2023-01-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.040682+00:00","generated_at":"2026-06-20T18:58:54.418241+00:00","sec_items":["1.01","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Local Bounti amends Cargill credit agreements: reduces reserve, liquidity covenants, allows PIK interest","bullets":["Debt service reserve reduced by ~$10M; minimum liquidity cut from $20M to $11M (or $10M with offtake).","Q4 2022 interest payment can be paid in kind (PIK), added to principal balance, preserving cash.","New CapEx covenant: aggregate new-project expenditures capped at $1M/year; existing projects capped at 105% budget.","Total credit facility remains $170M in outstanding loans and undrawn commitments."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-003676","json":"https://secwatch.observer/filing/0001193125-23-003676.json","markdown":"https://secwatch.observer/filing/0001193125-23-003676.md","text":"https://secwatch.observer/filing/0001193125-23-003676.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523003676/0001193125-23-003676-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523003676/d442950d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T18:58:54.418241+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":"37c65a363afdb958ee67a858c2916d2bb84744dc","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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523003676/0001193125-23-003676-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Cargill Financial Services International, Inc."},{"label":"Value","value":"$170.0 million"},{"label":"Effective","value":"2022-12-30"}],"fact_type":"material_agreement"},{"claim_id":"791cd8b804e2b04f6fc04a3b4b6a5599de260f3f","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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523003676/0001193125-23-003676-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Cargill Financial Services International, Inc."},{"label":"Value","value":"$11.0 million"},{"label":"Effective","value":"2023-01-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}