{"schema_version":"secwatch.filing_event.v1","accession":"0001840780-25-000031","form_type":"8-K","ticker":"LOCL","cik":"0001840780","company_name":"Local Bounti Corporation/DE","filed_at":"2025-08-04T23:59:59+00:00","discovered_at":"2026-05-14T18:02:45.294372+00:00","generated_at":"2026-05-17T21:34:43.394069+00:00","sec_items":["1.01","2.03","3.02","7.01","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Local Bounti secures $10M convertible note, reduces credit facility debt by $10M","bullets":["Issued $10M convertible note to existing investor U.S. Bounti LLC, 6% annual interest payable in kind, 5-year maturity.","Issued warrant to purchase 550,000 shares at $0.125 per share; conversion price on note is $2.50 per share.","Twelfth Amendment to Senior Credit Agreement cancels $10M of loans; remaining principal $302M.","Proceeds used for working capital, general corporate purposes, and capital expenditures.","Company will seek stockholder approval within three months due to NYSE rules on share issuance cap."],"urls":{"canonical":"https://secwatch.observer/filing/0001840780-25-000031","json":"https://secwatch.observer/filing/0001840780-25-000031.json","markdown":"https://secwatch.observer/filing/0001840780-25-000031.md","text":"https://secwatch.observer/filing/0001840780-25-000031.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1840780/000184078025000031/0001840780-25-000031-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1840780/000184078025000031/locl-20250801.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-17T21:34:43.394069+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":[{"claim_id":"1d84849f0c90310257fb10e5cbd4e7d7a4c9b708","claim":"Local Bounti Corporation/DE incurred convertible notes of $10.0 million with U.S. Bounti, LLC at 6.0% per year maturing fourth anniversary of the Issuance Date.","evidence_excerpt":"(the “Purchase Agreement”) with U.S. Bounti, LLC (the “Purchaser”), providing for the purchase, sale and issuance of (i) a convertible note with an initial principal balance of $10.0 million (the “Note”) and (ii) a common stock purchase warrant (the “Warrant”) pursuant to which the Purchaser has the right to purchase and acquire 550,000 shares of the Company’s common","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078025000031/0001840780-25-000031-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$10.0 million"},{"label":"Counterparty","value":"U.S. Bounti, LLC"},{"label":"Rate","value":"6.0% per year"},{"label":"Maturity","value":"fourth anniversary of the Issuance Date"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"d7b0d50d1cd368d556c6255add14bbe27ad0e66c","claim":"Local Bounti Corporation/DE amended credit facility of $302.0 million with Cargill Financial Services International, Inc..","evidence_excerpt":"Following the Debt Reduction, the aggregate principal amount of loans outstanding under the Senior Credit Agreement is $302.0 million","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1840780/000184078025000031/0001840780-25-000031-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$302.0 million"},{"label":"Counterparty","value":"Cargill Financial Services International, Inc."},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}