---
schema_version: "secwatch.filing_event.v1"
accession: "0001840780-24-000002"
form_type: "8-K"
ticker: "LOCL"
cik: "0001840780"
company_name: "Local Bounti Corporation/DE"
filed_at: "2024-01-26T23:59:59+00:00"
generated_at: "2026-06-06T16:41:34.001540+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Local Bounti amends credit to allow Q1 2024 PIK interest, cuts warrant price to $6.50

## Summary
- Eighth Amendment permits payment-in-kind of quarterly interest for quarter ending March 31, 2024.
- Warrant exercise price reduced from $13.00 to $6.50 per share; still covers 5,353,846 shares.
- PIK interest added to principal balance; no cash interest payment due for Q1 2024.
- Amendments with Cargill Financial underscore ongoing cash-preservation measures.

## SEC filing metadata
- accession: 0001840780-24-000002
- form_type: 8-K
- ticker: LOCL
- cik: 0001840780
- company_name: Local Bounti Corporation/DE
- filed_at: 2024-01-26T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1840780/000184078024000002/0001840780-24-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1840780/000184078024000002/locl-20240123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001840780-24-000002
- JSON: https://secwatch.observer/filing/0001840780-24-000002.json
- Plain text: https://secwatch.observer/filing/0001840780-24-000002.txt

## Key facts
- Debt Financings
  Local Bounti Corporation/DE amended credit facility with Cargill Financial Services International, Inc..
  - Instrument: credit facility
  - Counterparty: Cargill Financial Services International, Inc.
  - Event: amendment
  source text: The information provided in Item 1.01 under “Eighth Amendment to Credit Agreements” of this Current Report on Form 8-K is incorporated herein by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840780/000184078024000002/0001840780-24-000002-index.htm
- Material Agreements
  Local Bounti Corporation/DE amended Eighth Amendment to Credit Agreements with Cargill Financial Services International, Inc. (effective 2024-01-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Cargill Financial Services International, Inc.
  - Effective: 2024-01-23
  source text: On January 23, 2024, the Company, along with certain subsidiaries of the Company, entered into an Eighth Amendment to Credit Agreements (the “Eighth Amendment”) with Cargill Financial to further amend the Credit Agreements.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840780/000184078024000002/0001840780-24-000002-index.htm
- Material Agreements
  Local Bounti Corporation/DE amended Amendment to Common Stock Purchase Warrant with Cargill Financial Services International, Inc. (effective 2024-01-23).
  - Action: amendment
  - Agreement: equity purchase
  - Counterparty: Cargill Financial Services International, Inc.
  - Effective: 2024-01-23
  source text: On January 23, 2024, the Company entered into an Amendment to Common Stock Purchase Warrant (the “Warrant Amendment”) with Cargill Financial to amend that certain Common Stock Purchase Warrant, dated March 28, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840780/000184078024000002/0001840780-24-000002-index.htm

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