---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-054899"
form_type: "8-K"
ticker: "LOCL"
cik: "0001840780"
company_name: "Local Bounti Corporation/DE"
filed_at: "2026-08-07T20:51:04+00:00"
generated_at: "2026-08-07T20:52:13.847624+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Local Bounti raises $12.5M via convertible note and warrant; amends Cargill credit terms

## Summary
- Issued $12.5M convertible note to U.S. Bounti, LLC at 7.0% PIK interest; conversion price $1.37/share.
- Warrant to purchase 1,000,000 shares at $0.125/share, exercisable immediately, 10-year term.
- Note converts to up to 9,124,088 shares; 50% auto-converts at 4th anniversary, 50% at maturity.
- Cargill Financial amended Senior Credit Agreement: minimum liquidity cut to $3.5M through Mar 2027, $2.0M thereafter.
- Proceeds for working capital; stockholder approval required by Nov 30, 2026 for issuance above 1% cap.

## SEC filing metadata
- accession: 0001628280-26-054899
- form_type: 8-K
- ticker: LOCL
- cik: 0001840780
- company_name: Local Bounti Corporation/DE
- filed_at: 2026-08-07T20:51:04+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1840780/000162828026054899/0001628280-26-054899-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1840780/000162828026054899/locl-20260807.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-054899
- JSON: https://secwatch.observer/filing/0001628280-26-054899.json
- Plain text: https://secwatch.observer/filing/0001628280-26-054899.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.