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Local Bounti Corporation ( (LOCL) ) has provided an update.
On March 31, 2025, Local Bounti Corporation entered into a Debt Restructuring Agreement with Cargill Financial Services, resulting in the cancellation of $197 million in existing debt and the restructuring of senior loans. The agreement includes new financial covenants and extends the maturity date of the loans to December 31, 2035. Additionally, the company announced a $25 million investment through a securities purchase agreement and appointed Kathleen Valiasek as the new CEO, effective March 31, 2025, following Craig M. Hurlbert’s resignation.
More about Local Bounti Corporation
YTD Price Performance: -6.28%
Average Trading Volume: 9,683
Technical Sentiment Signal: Buy
Current Market Cap: $17.44M
For detailed information about LOCL stock, go to TipRanks’ Stock Analysis page.