---
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"
generated_at: "2026-05-24T02:21:31.420485+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Local Bounti FY2024 sales up 38% to $38.1M; secures $27.5M funding, restructures debt; names new CEO

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001840780-25-000006
- JSON: https://secwatch.observer/filing/0001840780-25-000006.json
- Plain text: https://secwatch.observer/filing/0001840780-25-000006.txt

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