{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-074037","form_type":"8-K","ticker":"LOCL","cik":"0001840780","company_name":"Local Bounti Corporation/DE","filed_at":"2023-03-17T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.041134+00:00","generated_at":"2026-06-17T23:47:58.896387+00:00","sec_items":["1.01","2.02","2.03","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Local Bounti amends Cargill credit facility; reports FY2022 sales $19.5M, net loss $111.1M","bullets":["Fifth Amendment reduces required cash in debt service reserve by ~$11M until April 2, 2024; allows PIK interest and Q1 2023 unused fee.","Minimum liquidity covenant reduced from $11M to $1M.","Preliminary FY2022 sales $19.5M, adjusted gross margin 38%, net loss $111.1M, adjusted EBITDA loss $29.8M.","Company expects to file 10-K on or about March 29, 2023; earnings call March 29 at 8am ET.","Aggregate outstanding loans and undrawn commitments remain $170M (plus PIK interest)."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-074037","json":"https://secwatch.observer/filing/0001193125-23-074037.json","markdown":"https://secwatch.observer/filing/0001193125-23-074037.md","text":"https://secwatch.observer/filing/0001193125-23-074037.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523074037/0001193125-23-074037-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523074037/d485924d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T23:47:58.896387+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":"16ed651df037c558cd5d654fa8b762e40d1cb47d","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","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523074037/0001193125-23-074037-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$170.0 million"},{"label":"Counterparty","value":"Cargill Financial Services International, Inc."},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"18232614008ce75fccc362aebd53fdc3e0fd0abb","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.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523074037/0001193125-23-074037-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the year ended December 31, 2022"},{"label":"Revenue","value":"$19.5 million"},{"label":"Net income","value":"$111.1 million"},{"label":"Result","value":"preliminary results"}],"fact_type":"earnings_release"},{"claim_id":"ca850414f3bb5f31fbec12b75f6cb7497f70b1f0","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.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1840780/000119312523074037/0001193125-23-074037-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Cargill Financial Services International, Inc."},{"label":"Effective","value":"2023-03-13"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}