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Local Bounti
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Short description

Grower of leafy greens in hydroponic greenhouses

Founded in 2018
Founded in

Company type Public Public (LOCL)
Company type

Industry Group agriculture & food

Sector indoor farming

TRL Range 9
TRL 1 Basic research
TRL 2 Technology formulation
TRL 3 Applied research
TRL 4 Small scale prototype
TRL 5 Large scale prototype
TRL 6 Prototype system
TRL 7 Demonstration system
TRL 8 First of a kind commercial system
TRL 9 Full commercial application
TRL Range

Ticker

Headquarters Hamilton, MT Hamilton, United States
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Updated by Cleantech Group on 03/31/2025

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  • 1 M&A items
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IPO INFORMATION

Date

11/23/2021

IPO status

Listed

IPO Type

SPAC

Amount

$1.1B

Initial shares

Ticker symbol

LOCL

Exchange listed

NYSE

Prospectus URL

Prospectus

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Description

US indoor farming company Local Bounti has completed its merger with special purpose acquisition company (SPAC) Leo Holdings III Corp, which is listed on the New York Stock Exchange (NYSE). As a result of the deal, which completed November 22, Leo was renamed Local Bounti and switched to trading under the ticker symbol ‘LOCL.’ The company’s stock opened on $9.81 per share and reached a daily high of $10.31, before closing the day at $9.91.

Date Investors Type Amount
03/31/2025 (0)
Post-money valuation of
Local Bounti secured a $25 million investment from new and existing investors. Additionally, the Company executed a term sheet with a commercial finance lender, which provides approximately $2.5 million in capex financing.
Follow-on Public Offering $25,000,000
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