Key Takeaways:
- Local Bounti Corporation (NYSE: LOCL) has secured $15 million through the issuance of a convertible note with an existing strategic investor, marking the company's second convertible note raise in under a year.
- The latest raise follows a $10 million convertible note secured in August 2025, bringing total convertible financing raised over the past 12 months to $25 million.
- Local Bounti reported Q3 2025 sales of $12.2 million, reflecting 19% year-over-year revenue growth driven by increased production across its Georgia, Texas, and Washington facilities.
- The company reduced annualized expenses by nearly $8 million in the first nine months of 2025, with an additional $1.5–$2 million in reductions expected in Q4 2025.
- The company is navigating an NYSE continued listing standards notice received in February 2026, related to minimum market capitalization requirements.
Local Bounti Raises $15M via Convertible Note
Local Bounti Corporation (NYSE: LOCL), a U.S. indoor agriculture company, has announced it secured $15 million through the issuance of a convertible note with an existing strategic investor. The raise is the second convertible note the company has secured within the past year, following a $10 million convertible note closed in August 2025. Full terms of the agreement are set forth in the company's Current Report on Form 8-K, filed with the Securities and Exchange Commission on March 16, 2026.
Local Bounti Leadership on the Raise
Kathleen Valiasek, President and Chief Executive Officer of Local Bounti, commented on the financing.
“We are pleased to continue to have the strong support of our financing partners as we execute on our growth strategy. This additional capital from an existing strategic investor provides us with the financial flexibility to invest in our operations and drive long-term value creation,” Valiasek said.
