secwatch.observer — SEC 8-K summary
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Issuer:     Local Bounti Corporation/DE (LOCL)
CIK:        0001840780
Form:       8-K
Filed at:   2023-10-30T23:59:59+00:00
Accession:  0001840780-23-000043
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Local Bounti Q3 sales rise 8% to $6.8M; net loss $24.3M; NYSE listing risk flagged
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- Net loss of $24.3M vs $27.1M a year ago; adjusted EBITDA loss widened to $9.0M from $7.3M.
- Sales of $6.8M, up from $6.3M; revised FY2023 guidance to $30-34M from prior range.
- Georgia facility Stack integration completed; Texas and Washington facilities on track for late Q4 2023 and early Q1 2024.
- Ended Q3 with $18.3M cash; secured $10M additional working capital from Cargill (closing Nov); USDA lender commitment up to $228M.
- NYSE warned of potential delisting if avg share price stays below $1 for 30 days or market cap below $15M; warrants already halted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1840780/000184078023000043/0001840780-23-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1840780/000184078023000043/locl-20231029.htm
  HTML page:      https://secwatch.observer/filing/0001840780-23-000043

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