Local Bounti, Disruptive Agtech Company Redefining The Future Of Farming, And Leo Holdings Iii Corp Announce Upsizing Of Pipe Investment By $25 Million
Round Type
Post-IPO Equity
HamiltonManufacturingData And AnalyticsAgriculture And FarmingFood And BeverageFarmingDescription
Breakthrough U.S. indoor agriculture company Local Bounti Corporation ("Local Bounti") and Leo Holdings III Corp (NYSE:LIII) ("Leo"), a publicly traded special purpose acquisition company, today announced they have entered into subscription agreements for an additional $25 million of common stock in a private placement ("PIPE") from new and existing PIPE investors on the same terms as the initial PIPE financing in the previously announced business combination transaction between Local Bounti and Leo on June 18, 2021 (the "Business Combination"). This increases the aggregate amount of expected PIPE proceeds to $150 million. Commitments for the upsized PIPE come from new and existing PIPE investors, including Fidelity Management & Research Company LLC, BNP Paribas Asset Management Ecosystem Restoration Fund, strategic partner Sarath Ratanavadi, CEO of Gulf Energy Development Public Company Limited, Scott McNealy, co-founder and former CEO of Sun Microsystems, and affiliates of Leo's sponsor.
Quick answer
Local Bounti raised an undisclosed amount in a Post-IPO Equity round, dated November 5, 2021. Local Bounti is based in Hamilton, Montana, United States.
- How much did Local Bounti raise?
- Local Bounti raised an undisclosed amount in a Post-IPO Equity round on November 5, 2021.
- What does Local Bounti do?
- Local Bounti is revolutionizing the way produce is grown and delivered by providing fresh, locally grown, non-GMO greens year-round.
- Where is Local Bounti based and how big is it?
- Local Bounti is based in Hamilton, Montana, United States. Fundz records about 146 employees.
- Who are the decision-makers at Local Bounti?
- Fundz holds 1 contact at Local Bounti, including the Executive Officer, Director. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Data And Analytics and Agriculture And Farming around the same time
Companies in the same sectors as Local Bounti that raised within 45 days of this round, from Fundz verified event records.
- American Bitcoin raised $18M on October 20, 2021.
- The Green Coffee Company raised $900K (Seed) on December 17, 2021.
- Greeneye Technology raised an undisclosed amount (Funding Round) on December 16, 2021.
- Healthy Oceans Seafood Company, Inc. raised $300K (Seed) on December 6, 2021.
- medimaps group S.A raised $20M (Funding Round) on December 1, 2021.
- Blue Cloud Technology raised an undisclosed amount (Funding Round) on November 17, 2021.
Who to call at Local Bounti, and when
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- An alert the day Local Bounti raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Local Bounti, from your own LinkedIn network
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Related People
Local Bounti raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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