Local Bounti is a holding company and has no material assets other than its direct and indirect equity interests in its subsidiaries. Local Bounti has no independent means of generating revenue. To the extent Local Bounti’s subsidiaries have available cash, Local Bounti will cause its subsidiaries to make distributions of cash to pay taxes, cover Local Bounti’s corporate and other overhead expenses and pay dividends, if any, on the common stock. To the extent that Local Bounti needs funds and its subsidiaries fail to generate sufficient cash flow to distribute funds to Local Bounti or are restricted from making such distributions or payments under applicable law or regulation or under the terms of their financing arrangements, or are otherwise unable to provide such funds, Local Bounti’s liquidity and financial condition could be materially adversely affected.
Company profile
Ticker
LOCL, LOCL-WT
Exchange
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Leo Holdings III Corp.
SEC CIK
LOCL stock data
Analyst ratings and price targets
Latest filings (excl ownership)
EFFECT
Notice of effectiveness
12 Jan 23
8-K
Entry into a Material Definitive Agreement
6 Jan 23
424B3
Prospectus supplement
5 Jan 23
EFFECT
Notice of effectiveness
5 Jan 23
POS AM
Prospectus update (post-effective amendment)
30 Dec 22
S-3
Shelf registration
30 Dec 22
424B3
Prospectus supplement
16 Dec 22
424B3
Prospectus supplement
16 Dec 22
424B3
Prospectus supplement
16 Dec 22
8-K
Departure of Directors or Certain Officers
16 Dec 22
Latest ownership filings
4
Mark Joseph Nelson
18 Jan 23
SC 13D/A
McLeod Management Co., LLC
6 Jan 23
SC 13D/A
Wheat Wind Farms, LLC
6 Jan 23
4
Matthew Nordby
5 Jan 23
4
EDWARD C FORST
5 Jan 23
4
Change in insider ownership
5 Jan 23
4
KATHLEEN VALIASEK
4 Jan 23
4
Margaret McCandless
4 Jan 23
4
Brian C. Cook
4 Jan 23
4
B. David Vosburg
4 Jan 23
Financial summary
| Quarter (USD) | Sep 22 | Jun 22 | Mar 22 | Dec 21 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Cost of revenue | |||||
| Operating income | |||||
| Operating margin | |||||
| Net income | |||||
| Net profit margin | |||||
| Cash on hand | |||||
| Change in cash | |||||
| Diluted EPS |
| Annual (USD) | Dec 21 | |
|---|---|---|
| Revenue | ||
| Cost of revenue | ||
| Operating income | ||
| Operating margin | ||
| Net income | ||
| Net profit margin | ||
| Cash on hand | ||
| Change in cash | ||
| Diluted EPS |
| Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 23.98 mm | 23.98 mm | 23.98 mm | 23.98 mm | 23.98 mm | 23.98 mm |
| Cash burn (monthly) | 5.77 mm | (no burn) | 7.33 mm | 8.25 mm | 3.42 mm | 3.50 mm |
| Cash used (since last report) | 23.90 mm | n/a | 30.36 mm | 34.19 mm | 14.18 mm | 14.51 mm |
| Cash remaining | 83.76 k | n/a | -6.38 mm | -10.21 mm | 9.80 mm | 9.47 mm |
| Runway (months of cash) | 0.0 | n/a | -0.9 | -1.2 | 2.9 | 2.7 |
Institutional ownership, Q3 2022
55.5% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 28 |
| Opened positions | 20 |
| Closed positions | 56 |
| Increased positions | 1 |
| Reduced positions | 2 |
| 13F shares | Current |
|---|---|
| Total value | 205.02 mm |
| Total shares | 57.60 mm |
| Total puts | 0.00 |
| Total calls | 233.60 k |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| Wheat Wind Farms | 17.93 mm | $64.20 mm |
| McLeod Management | 16.10 mm | $57.64 mm |
| Leo Investors III | 12.10 mm | $78.07 mm |
| Live Oak Ventures | 8.76 mm | $0.00 |
| LMR Partners | 1.08 mm | $3.06 mm |
| Owl Creek Asset Management | 529.26 k | $203.00 k |
| Integrated Core Strategies | 224.55 k | $1.45 mm |
| Moore Capital Management | 150.00 k | $57.00 k |
| Sona Asset Management | 127.17 k | $49.00 k |
| Kim | 100.00 k | $38.00 k |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 13 Jan 23 | Mark Joseph Nelson | Common Stock | Sell | Dispose S | No | Yes | 1.1455 | 9,422 | 10.79 k | 178,739 |
| 3 Jan 23 | Edward C Forst | Common Stock | Other | Acquire J | No | No | 0 | 704,153 | 0.00 | 730,194 |
| 3 Jan 23 | Edward C Forst | Warrants to purchase Common Stock Common Stock | Other | Acquire J | Yes | No | 1.5 | 510,952 | 766.43 k | 510,952 |
| 3 Jan 23 | Edward C Forst | Warrants to purchase Common Stock Common Stock | Other | Acquire J | No | No | 1.5 | 495,000 | 742.50 k | 495,000 |
| 3 Jan 23 | Matthew Nordby | Common Stock | Other | Acquire J | No | No | 0 | 285,609 | 0.00 | 358,650 |
| 3 Jan 23 | Matthew Nordby | Warrants to purchase Common Stock Common Stock | Other | Acquire J | No | No | 1.5 | 166,667 | 250.00 k | 166,667 |
| 3 Jan 23 | Leo Investors III | Common Stock | Other | Dispose J | No | No | 0 | 6,718,168 | 0.00 | 51,832 |
| 3 Jan 23 | Leo Investors III | Warrants to purchase Common Stock Common Stock | Other | Dispose J | No | No | 1.5 | 4,321,906 | 6.48 mm | 1,011,427 |
| 1 Jan 23 | Brian C. Cook | Common Stock | Grant | Acquire A | No | No | 0 | 500,000 | 0.00 | 1,124,735 |
| 3 Jan 22 | Edward C Forst | Common Stock | Other | Acquire J | Yes | No | 0 | 726,844 | 0.00 | 726,844 |