---
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"
generated_at: "2026-05-17T21:34:43.394069+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Local Bounti secures $10M convertible note, reduces credit facility debt by $10M

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001840780-25-000031
- JSON: https://secwatch.observer/filing/0001840780-25-000031.json
- Plain text: https://secwatch.observer/filing/0001840780-25-000031.txt

## Key facts
- Debt Financings
  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.
  - Instrument: convertible notes
  - Principal: $10.0 million
  - Counterparty: U.S. Bounti, LLC
  - Rate: 6.0% per year
  - Maturity: fourth anniversary of the Issuance Date
  - Event: incurrence
  source text: (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_url: https://www.sec.gov/Archives/edgar/data/1840780/000184078025000031/0001840780-25-000031-index.htm
- Debt Financings
  Local Bounti Corporation/DE amended credit facility of $302.0 million with Cargill Financial Services International, Inc..
  - Instrument: credit facility
  - Principal: $302.0 million
  - Counterparty: Cargill Financial Services International, Inc.
  - Event: amendment
  source text: Following the Debt Reduction, the aggregate principal amount of loans outstanding under the Senior Credit Agreement is $302.0 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1840780/000184078025000031/0001840780-25-000031-index.htm

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