secwatch.observer — SEC 8-K summary
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Issuer:     Local Bounti Corporation/DE (LOCL)
CIK:        0001840780
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001840780-22-000016
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Local Bounti Q3 revenue $6.3M (vs $0.2M prior), net loss $27.1M; reaffirms FY22 guidance at least $20M
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- Q3 2022 revenue $6.3M, up from $0.2M a year ago; net loss $27.1M vs $10.8M prior.
- Adjusted EBITDA loss $7.3M vs $5.5M prior; adjusted gross margin ~38%.
- Five-year offtake agreement with Sam's Club; initial shipments expected November 2022.
- Closed $23.3M PIPE in Oct 2022 from Fidelity and BNP Paribas; total liquidity >$80M.
- Georgia facility shipping product; Texas site selected; Pasco, WA facility on track.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840780/000184078022000016/0001840780-22-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840780/000184078022000016/locl-20221110.htm
  HTML page:      https://secwatch.observer/filing/0001840780-22-000016

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