Local Bounti To Go Public In $1.1 Bln SPAC Deal Via Leo Holdings III

T-Reuters2021-06-18

Leo Holdings III Corp:Local Bounti, Disruptive Agtech Company Redefining The Future Of Farming, To Go Public In $1.1B Spac Deal Via Leo Holdings Iii Corp..Local Bounti - Pro Forma Equity Value Of Merger Is Approximately $1.1 Billion, At $10.00 Per Share Pipe Price, Assuming No Redemptions.Local Bounti - Cargill Separately Expecting To Provide $200 Million Debt Facility To Accelerate Local Bounti'S Expansion Plans.Local Bounti - Upon Closing Of Transaction, Combined Co Is Expected To Remain Listed On New York Stock Exchange Under Symbol "Locl".Local Bounti - Deal To Provide Up To $400 Million Of Proceeds To Combined Co, Including $125 Million Fully Committed Common Stock Pipe At $10.00 Per Share.

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