Local Bounti Corporation (LOCL) received a nine-month extension from the NYSE, moving its deadline to regain compliance with the Minimum Market Capitalization Standard to August 5, 2027. The original notice cited average global market capitalization below $50 million over a consecutive 30 trading-day period and last reported stockholders’ equity below $50 million.
LOCL’s common stock will continue to be listed and traded during the cure period, subject to other NYSE listing standards and quarterly reviews. By the deadline, the company must achieve either average global market capitalization of at least $50 million over a consecutive 30 trading-day period or total stockholders’ equity of at least $50 million. If the NYSE determines progress is insufficient, it could begin suspension and delisting proceedings before the deadline; the company says it cannot assure it will regain compliance and maintain its listing.
Local Bounti Corporation (LOCL) withheld 33,917 common shares from President and CEO Kathleen Valiasek on November 1, 2026, to pay the withholding tax liability incurred upon settlement of previously awarded restricted stock units. The transaction reports a per-share price of $0.93; Valiasek's directly held balance afterward was 1,372,223 shares. No Rule 10b5-1 plan is reported.
Local Bounti Corporation interim CFO Anthony Hughes had 9,587 shares withheld by the company for the withholding tax liability incurred upon settlement of previously awarded restricted stock units on November 1, 2026. The reported price was $0.93 per share, and Hughes held 110,683 shares directly after the transaction.
Local Bounti Corporation (LOCL) General Counsel & Secretary Margaret McCandless had 3,833 common shares withheld by the company on November 1, 2026, to pay the withholding tax liability incurred upon settlement of previously awarded restricted stock units. The reported price was $0.93 per share; she directly held 105,704 shares after the transaction.
Local Bounti Corporation President and CEO Kathleen Valiasek sold 118,720 shares of common stock on October 2, 2026, at $1.06 per share. The sale covered tax-withholding obligations connected with settling equity awards and was described as a “sell to cover” transaction. Her direct holdings after the sale were 1,406,140 shares. No Rule 10b5-1 plan is reported for the sale.
Local Bounti Corporation (LOCL) is asking stockholders at a November 4, 2026 virtual special meeting to approve, for NYSE rule compliance, the potential issuance of up to 12,563,309 shares of common stock upon conversion of a convertible note held by majority stockholder U.S. Bounti and up to 1,000,000 warrant shares, plus an adjournment proposal.
The note has an initial principal balance of $12.5 million and an initial conversion price of $1.37 per share, and the warrant is immediately exercisable at $0.125 per share for 10 years. Depending on how much payment-in-kind (PIK) interest is added, conversion of all obligations could reach 12,797,005 shares, exceeding NYSE’s 1% “Active Related Party” cap and therefore requiring stockholder approval.
Local Bounti discloses that issuing these shares to U.S. Bounti would dilute other holders’ ownership, book value per share, and future earnings per share, and larger resales could pressure the trading price. Charles R. Schwab, through U.S. Bounti and related entities, already beneficially owns 74.3% of common stock and can significantly influence corporate decisions.
Local Bounti Corporation reported higher sales but continued losses for the six months ended June 30, 2026. Sales rose to $27.2 million from $23.7 million, driven by increased production at facilities in Georgia, Texas, and Washington. However, cost of goods sold grew faster than revenue, and gross profit slipped to $2.6 million.
The company posted a six‑month net loss of $32.5 million, a substantial improvement from $59.3 million a year earlier, helped by lower research and development, general and administrative spending, and a sharp reduction in interest expense after restructuring its debt. Cash and restricted cash totaled $10.1 million, while long‑term debt stood at $489.3 million, including a $302.8 million Senior Facility, contributing to a stockholders’ deficit of $196.9 million.
Management evaluated going‑concern conditions and believes that existing cash, expected cash from product sales, and a $12.5 million August 2026 convertible note and warrant financing will fund operations for at least 12 months. A prior minimum liquidity covenant breach under the Cargill Senior Facility was waived, and the covenant was reset. The company continues to focus on yield improvements, cost reductions, and expanding distribution to approximately 13,000 retail locations.
Local Bounti Corporation reported preliminary results for the quarter ended June 30, 2026. Sales rose to $13.9 million, up 14% from $12.1 million a year earlier, driven by increased production at facilities in Georgia, Texas, and Washington. Gross profit was $1.0 million versus $1.5 million, and adjusted gross margin declined to 27% from 30% due to temporary packing inefficiencies in Georgia. General and administrative expenses fell to $7.5 million, with adjusted G&A down 17% to $4.1 million.
Net loss narrowed to $19.8 million from $21.6 million, while adjusted EBITDA loss improved to $5.8 million from $7.1 million. The company ended the quarter with $10.1 million in cash, cash equivalents, and restricted cash, and subsequently received an additional $12.5 million investment from an existing strategic investor via a convertible note and warrant. As of June 30, 2026, Local Bounti reported a stockholders’ deficit of $196.9 million and fully diluted share count of about 42.5 million, and highlighted ongoing going‑concern and capital‑raising risks even as it targets positive adjusted EBITDA.
Local Bounti Corporation reported updated ownership and financing details following an August 7, 2026 transaction with U.S. Bounti, LLC. Entities associated with Charles R. Schwab beneficially own 29,424,092 shares of common stock, representing 84.4% of the class based on 23,369,605 shares outstanding as of August 6, 2026. U.S. Bounti itself beneficially owns 28,283,696 shares, or 81.1%.
On August 7, 2026, U.S. Bounti purchased from Local Bounti a $12,500,000 convertible note and a warrant to buy 1,000,000 shares of common stock for a combined $12,500,000, funded with cash on hand. The note bears 7.0% interest, payable initially as PIK interest, and is convertible at an initial price of $1.37 per share; full conversion of the initial principal would result in 9,124,088 shares, subject to increase from PIK interest. The warrant is immediately exercisable at $0.125 per share and expires on August 7, 2036. Issuances upon conversion or exercise are capped at 1% of outstanding common stock until required stockholder approval, which the company is required to seek by November 30, 2026.
Local Bounti Corporation reported a Form 4 for 10% owner Charles R. Schwab in connection with securities held indirectly through U.S. Bounti, LLC. On August 7, 2026, U.S. Bounti entered into a Purchase Agreement with Local Bounti to buy, for a combined $12.5 million, a $12.5 million convertible note initially convertible into 9,124,088 shares of common stock at $1.37 per share and a warrant to purchase 1,000,000 common shares at an exercise price of $0.125 per share. U.S. Bounti cannot receive more than 233,696 common shares from converting the note or exercising the warrant until required stockholder approval, which the company is required to seek at a special meeting no later than November 30, 2026.