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LOCAL BOUNTI CORPORATION

(LOCL)
  Report
Delayed Nyse  -  04:00:02 2023-03-21 pm EDT
0.4773 USD   -17.09%
05:02pLocal Bounti Corporation/de : Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)
AQ
08:01aLocal Bounti Welcomes Jennifer Carr-Smith to its Board of Directors
PR
03/20Deutsche Bank Adjusts Local Bounti Price Target to $2 From $9, Maintains Buy Rating
MT
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Local Bounti Corporation Amends Credit Agreement to Provide Additional Flexibility

03/17/2023 | 08:31am EDT

On March 13, 2023, Local Bounti Corporation along with certain subsidiaries of the Company, entered into a Fifth Amendment to Credit Agreements (the "Fifth Amendment") with Cargill to further amend the Company's existing credit facility agreements (the "Credit Agreements"). The Fifth Amendment (i) reduces the amount of cash required to be held in the debt service reserve account for the Credit Agreements by approximately $11.0 million until April 2, 2024, at which time the amount of cash required to be held in the debt service reserve account will be an amount equal to the sum of interest and principal payments that would be required under the Credit Agreements for two calendar quarters, (ii) allows for the payment in kind of the quarterly interest payment due and payable for the quarter ending March 31, 2023, (iii) allows for the payment in kind of the unused commitment fee payable for the quarter ending March 31, 2023; and (iv) reduces the minimum liquidity covenant in each of the Credit Agreements from $11.0 million to $1.0 million. The aggregate amount of outstanding loans and undrawn commitments under the Credit Agreements remains at $170.0 million (plus interest paid in kind).


ę S&P Capital IQ 2023
All news about LOCAL BOUNTI CORPORATION
05:02pLocal Bounti Corporation/de : Change in Directors or Principal Officers, Regulation FD Dis..
AQ
08:01aLocal Bounti Welcomes Jennifer Carr-Smith to its Board of Directors
PR
03/20Deutsche Bank Adjusts Local Bounti Price Target to $2 From $9, Maintains Buy Rating
MT
03/20Top Premarket Decliners
MT
03/17Local Bounti Corporation/de : Entry into a Material Definitive Agreement, Results of Opera..
AQ
03/17Local Bounti Amends Credit Agreement to Provide Additional Flexibility and Provides Sel..
PR
03/17Local Bounti Corporation Amends Credit Agreement to Provide Additional Flexibility
CI
03/03Local Bounti Corporation/de : Notice of Delisting or Failure to Satisfy a Continued Listin..
AQ
03/03Local Bounti Receives Continued Listing Standard Notice from NYSE
PR
01/11Local Bounti Introduces Asian Style Chicken Lettuce Wrap Kit Featuring Greenhouse-Grown..
CI
More news
Analyst Recommendations on LOCAL BOUNTI CORPORATION
More recommendations
Financials (USD)
Sales 2022 20,3 M - -
Net income 2022 -112 M - -
Net Debt 2022 88,6 M - -
P/E ratio 2022 -0,38x
Yield 2022 -
Capitalization 49,5 M 49,5 M -
EV / Sales 2022 6,79x
EV / Sales 2023 6,16x
Nbr of Employees 111
Free-Float 37,6%
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 5
Last Close Price 0,48 $
Average target price 7,94 $
Spread / Average Target 1 563%
EPS Revisions
Managers and Directors
Craig M. Hurlbert Co-Chief Executive Officer & Director
Travis M. Joyner Co-Chief Executive Officer & Director
Brian Cook President
Kathleen Valiasek Chief Financial Officer
Pamela Brewster Independent Director
Sector and Competitors