Secured $27.5 million of new funding - closed $25 million of new equity proceeds and $2.5 million of capex financing under executed term sheet and completed the restructuring of its existing credit facility – including a nearly 40% reduction through debt extinguishment of approximately $197 million, a significantly lower interest rate, and extended repayment terms with no cash payments until April 2027  Announces leadership succession and new Board appointments – President Kathleen Valiasek succeeds Craig Hurlbert as CEO, Mr. Hurlbert named Executive Chairman Further expansion of regional distribution with Walmart HAMILTON, Mont., March 31, 2025 /PRNewswire/ -- Local Bounti Corporation (NYSE

HAMILTON, Mont., March 28, 2025 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced it will release its financial results for the fiscal full year ended December 31, 2024 after the market closes on Monday, March 31, 2025. Conference Call The Company will host a conference call with members of the Local Bounti executive management team to discuss financial results and other business updates. The conference call is scheduled to begin at 4:30 p.m. ET on Monday, March 31, 2025. To p

New distribution underscores Local Bounti's customer-centric approach and commercial momentum HAMILTON, Mont., Dec. 16, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that it has received a two-year award from a large multinational retailer (the "Retailer") to supply Local Bounti's living butter lettuce product to 13 of the Retailer's distribution centers from Local Bounti's California and new Texas facilities. This award underscores Local Bounti's commitment to providing high-quality, fresh produce to consumers nationwide.

Commercial momentum accelerating with expanded product assortment and increased growing capacity Increased scale driving strategic discussions with customers to align respective footprints for next chapter of growth HAMILTON, Mont., Nov. 14, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced its financial results for the quarter ended September 30, 2024 and provided expectations for fourth quarter 2024. "In the third quarter, we delivered a 50% increase in sales over the p

HAMILTON, Mont., Nov. 11, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced it will release its financial results for the fiscal third quarter ended September 30, 2024 before the market opens on Thursday, November 14, 2024. Conference Call The Company will host a conference call with members of the Local Bounti executive management team to discuss financial results and other business updates. The conference call is scheduled to begin at 8:00 a.m. ET on Thursday, November

Recently began shipping to Sam's Club and Brookshire's out of Texas facility Negotiating an additional $175 million financing commitment for a total of up to $400 million in capital commitments to support 2024 and future projects including working capital and strategic growth capital — anticipate closing in third quarter of 2024 Reiterates full year 2024 sales guidance of $50 to $60 million, representing a doubling of revenue versus 2023 HAMILTON, Mont., Aug. 13, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced its financial results for the quarter ended June 30, 2024 and reiterated f

Expanded distribution brings Local Bounti's full assortment of product offerings to more than 180 BGC locations HAMILTON, Mont., Aug. 12, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that it is now shipping to Brookshire Grocery Company ("BGC") locations from its new Mount Pleasant, Texas facility.  BGC is stocking Local Bounti's full line of produce products – including its Grab-and-Go Salad Kits, living lettuce and baby leaf varieties – to more than 180 Brookshire store locations across three states in the Southeast and Southwest United States.

HAMILTON, Mont., Aug. 9, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced it will release its financial results for the fiscal second quarter ended June 30, 2024 before the market opens on Tuesday, August 13, 2024. Conference Call The Company will host a conference call with members of the Local Bounti executive management team to discuss financial results and other business updates. The conference call is scheduled to begin at 8:00 a.m. ET on Tuesday, August 13, 2024. T

Now also Supplying Sam's Club from Local Bounti's Recently Opened Texas Facility HAMILTON, Mont., July 22, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced that it has expanded distribution with its customer, Sam's Club, for its leafy greens production with service commencing from the Company's recently opened CEA facility in Mount Pleasant, Texas.  Local Bounti is now fulfilling shipments to six of Sam's regional distribution centers from two of its facilities, including Byron, Georgia. 

Added Role of President Reflects Ms. Valiasek's Impact on Improved Operating Efficiency HAMILTON, Mont., June 25, 2024 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, announced today that its Chief Financial Officer (CFO), Kathleen Valiasek, has been promoted to President and Chief Financial Officer, effective June 24. "Since Kathy joined our leadership team over three years ago, her contributions have been extensive, reaching far beyond that of her role as CFO. This appointment recognizes

Board of Directors Re-Appoints Co-Founder Craig Hurlbert as Chief Executive Officer Georgia Facility Doubled Run-rate Production in December Provides Update to Full Year 2023 Sales Expectation HAMILTON, Mont., Dec. 15, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company, today announced a leadership transition and a business update. Craig Hurlbert, the Company's Co-Founder and Chairman of the Board, is reprising the role of Chief Executive Officer, effective immediately.  Mr. Hurlbert prev

HAMILTON, Mont., March 21, 2023 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL, LOCL WS))) ("Local Bounti" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced that Jennifer Carr-Smith has been appointed to the Company's Board of Directors ("Board") and will serve on the Compensation Committee of the Board, in each case effective May 15, 2023. In connection with this appointment, the Board will be increased from 6 to 7 directors. Ms. Carr-Smith has served as President

HAMILTON, Mont., April 5, 2022 /PRNewswire/ -- Local Bounti Corporation (NYSE:LOCL, LOCL WS))) ("Local Bounti®" or the "Company"), a breakthrough U.S. indoor agriculture company combining the best aspects of vertical and greenhouse growing technologies, today announced the successful completion of its acquisition of California-based complementary indoor farming company Hollandia Produce Group, Inc., which operates under the name Pete's®, effective April 4, 2022.  "The combination of Pete's operational scale and retail distribution footprint with our market-leading unit-level e

Morgan Stanley initiated coverage of Local Bounti with a rating of Equal-Weight and set a new price target of $8.50

Deutsche Bank initiated coverage of Local Bounti with a rating of Buy and set a new price target of $9.00

Oppenheimer initiated coverage of Local Bounti with a rating of Outperform and set a new price target of $11.00

Roth Capital initiated coverage of Local Bounti with a rating of Buy and set a new price target of $8.00

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