---
schema_version: "secwatch.filing_event.v1"
accession: "0001840780-23-000008"
form_type: "8-K"
ticker: "LOCL"
cik: "0001840780"
company_name: "Local Bounti Corporation/DE"
filed_at: "2023-03-29T23:59:59+00:00"
generated_at: "2026-06-17T11:02:56.867210+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Local Bounti reports FY2022 net loss of $111M; secures $145M financing; guides FY2023 sales $34-40M

## Summary
- Full-year 2022 sales of $19.5M (up from $0.6M); net loss of $111.1M vs $56.1M prior year.
- Adjusted EBITDA loss of $29.8M vs $17.8M prior year; adjusted gross margin ~38%.
- Secured up to $145M in new financing: Cargill credit facility expanded to $280M ($110M increase) and $35M sale-leaseback of two California facilities.
- Issued Cargill 5-year warrants for 69.6M shares at $1.00/share, a >100% premium to stock price at announcement.
- FY 2023 sales guidance of $34-40M, excluding future capacity from Georgia Stack implementation.

## SEC filing metadata
- accession: 0001840780-23-000008
- form_type: 8-K
- ticker: LOCL
- cik: 0001840780
- company_name: Local Bounti Corporation/DE
- filed_at: 2023-03-29T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1840780/000184078023000008/0001840780-23-000008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1840780/000184078023000008/locl-20230329.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001840780-23-000008
- JSON: https://secwatch.observer/filing/0001840780-23-000008.json
- Plain text: https://secwatch.observer/filing/0001840780-23-000008.txt

## Key facts
- Earnings Releases
  Local Bounti Corporation/DE reported the three and twelve months ended December 31, 2022 results: revenue $19.5 million in 2022, net income $111.1 million in 2022. Guidance raised.
  - Period: the three and twelve months ended December 31, 2022
  - Revenue: $19.5 million in 2022
  - Net income: $111.1 million in 2022
  - Guidance: raised
  - Result: reported results
  source text: On March 29, 2023, Local Bounti Corporation issued a press release announcing its financial results for the three and twelve months ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840780/000184078023000008/0001840780-23-000008-index.htm

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