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Local Bounti Corporation, a leader in indoor agriculture, successfully completed its $1.1 billion business combination with Leo Holdings III Corp on November 19, 2021. Following this merger, the company commenced trading under the ticker symbols 'LOCL' and 'LOCL WS' on the New York Stock Exchange starting November 22, 2021. Local Bounti aims to revolutionize sustainable agriculture with advanced growing methods, delivering pesticide-free products while minimizing resource usage. The firm is positioned for growth as it seeks to maximize shareholder returns and enhance its market presence.
Leo Holdings III Corp (NYSE:LIII) announced the passing of its business combination proposal with Local Bounti Corporation at an extraordinary meeting on November 16, 2021. Approximately 98% of votes supported the combination, expected to close the week of November 22, 2021. Following the merger, Leo will rebrand as Local Bounti and trade under the symbol LOCL. Local Bounti aims to revolutionize agriculture by using 90% less water and minimizing environmental impact, providing sustainably grown produce year-round.
Leo Holdings III Corp (NYSE:LIII) announced a successful quorum for its extraordinary general meeting on November 16, 2021, to discuss a business combination with Local Bounti Corporation, valued at approximately $1.1 billion. Shareholders have overwhelmingly supported the proposed merger, which includes a $25 million upsizing of the private investment in public equity (PIPE) financing, ensuring the minimum cash requirement for closure. The merger is expected to finalize in Q4 2021, with Leo rebranding as Local Bounti Corporation under the symbol LOCL post-transaction.
Leo Holdings III Corp (NYSE: LIII) is urging shareholders to attend an extraordinary general meeting on November 16, 2021, to vote on a merger agreement with Local Bounti Corporation. Due to COVID-19 safety concerns, attendance will be by teleconference. The meeting will address the Business Combination and amendments to public warrants. Shareholders are advised to review the definitive joint proxy statement/prospectus for crucial information. The SEC deemed the Registration Statement effective on October 20, 2021, marking a significant step toward finalizing the merger.
Local Bounti Corporation and Leo Holdings III Corp (NYSE:LIII) announced a $25 million upsizing of their private investment in public equity (PIPE) agreements, increasing total PIPE proceeds to $150 million. This funding ensures compliance with cash requirements for their upcoming business combination, scheduled to close subject to shareholder approval. Local Bounti aims to disrupt traditional agriculture through sustainable practices, using 90% less water and land. The combined entity will trade under the ticker symbols 'LOCL' and 'LOCL WS' on the NYSE.
Local Bounti Corporation, a leader in U.S. indoor agriculture, announced participation in a fireside chat hosted by Jefferies on November 8, 2021, at 11:00 a.m. ET. The discussion will focus on the company's growth strategy and innovative practices in controlled environment agriculture, which uses 90% less water and land than traditional methods. The event will be webcast and a transcription will be filed with the SEC. Local Bounti, in partnership with Leo Holdings III Corp. (NYSE: LIII), aims to revolutionize local produce availability and sustainability.
Local Bounti Corporation, a leader in controlled environment agriculture, announced significant updates on October 21, 2021. The company has expanded its retail presence by partnering with Albertsons, targeting 84 grocery locations across six states. Local Bounti's Hamilton, Montana facility has become operational 25% ahead of schedule, with a 140% capacity increase. The fourth facility is under contract in Nevada, and product offerings have expanded from seven to eight SKUs. Local Bounti aims to complete its business combination with Leo Holdings III Corp (LIII) in Q4 2021, anticipating a $30 billion market for herbs and vegetables by 2025.
Local Bounti Corporation and Leo Holdings III Corp have announced an Extraordinary General Meeting scheduled for November 16, 2021, at 9:00 a.m. Eastern time to approve their pending business combination. A Warrant Holder Meeting will also occur on the same date at 9:30 a.m. The meetings will take place in New York and virtually. Leo has filed a Joint Proxy Statement/Prospectus, which will be mailed to shareholders starting October 22, 2021. If approved, the business combination is expected to close on or about November 17, 2021, with Local Bounti's stock trading under new ticker symbols on the NYSE.
Local Bounti Corporation announced a virtual Investor and Analyst Day scheduled for October 13, 2021, at 1:00 p.m. Eastern Time. This event relates to its business combination with Leo Holdings III Corp (NYSE: LIII). Co-CEOs Craig Hurlbert and Travis Joyner will present Local Bounti's strategies and performance insights, followed by a Q&A session. The combination aims to enhance efficiency in controlled environment agriculture. Post-completion, Local Bounti's new stock symbols will be LOCL and LOCLW.
Local Bounti Corporation has joined the United Nations Global Compact, marking it as a leading U.S. controlled environment agriculture (CEA) company in sustainability. This initiative, involving over 9,500 companies worldwide, focuses on aligning business practices with principles of human rights, labor, environment, and anti-corruption. Local Bounti aims to reduce food waste and greenhouse gas emissions by cultivating high-quality produce locally, enhancing shelf life, and creating job opportunities. The company anticipates the U.S. herbs and vegetables market could reach $30 billion by 2025. It plans to go public under the ticker LOCL after a merger with Leo Holdings III Corp.
