{"schema_version":"secwatch.filing_event.v1","accession":"0001840780-25-000006","form_type":"8-K","ticker":"LOCL","cik":"0001840780","company_name":"Local Bounti Corporation/DE","filed_at":"2025-03-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.221748+00:00","generated_at":"2026-05-24T02:21:31.420485+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Local Bounti FY2024 sales up 38% to $38.1M; secures $27.5M funding, restructures debt; names new CEO","bullets":["Full year 2024 sales $38.1M (+38% YoY); gross profit $4.1M; net loss $119.9M; adjusted EBITDA loss $32.1M.","Secured $27.5M new funding ($25M equity, $2.5M capex); restructured $312M debt with ~$197M extinguished.","New debt terms: SOFR+200bps, no cash interest/principal until April 2027, maturity extended to 2035.","Kathleen Valiasek promoted to CEO (was President/CFO); Craig Hurlbert becomes Executive Chairman; two new Board directors appointed.","Q1 2025 sales expected ~$11.5M; company targets positive adjusted EBITDA by Q3 2025; expanded Walmart distribution to 191 stores and 13 DCs."],"urls":{"canonical":"https://secwatch.observer/filing/0001840780-25-000006","json":"https://secwatch.observer/filing/0001840780-25-000006.json","markdown":"https://secwatch.observer/filing/0001840780-25-000006.md","text":"https://secwatch.observer/filing/0001840780-25-000006.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1840780/000184078025000006/0001840780-25-000006-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1840780/000184078025000006/locl-20250331.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T02:21:31.420485+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}