Local Bounti Faces Delisting Concerns
Ticker: LOCLW · Form: 8-K · Filed: Apr 5, 2024 · CIK: 1840780
| Field | Detail |
|---|---|
| Company | Local Bounti Corporation/De (LOCLW) |
| Form Type | 8-K |
| Filed Date | Apr 5, 2024 |
| Risk Level | high |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.0001, $50 million |
| Sentiment | bearish |
Sentiment: bearish
Topics: delisting, listing-rule, corporate-action
Related Tickers: LBCT
TL;DR
LBCT might get kicked off the exchange, big trouble brewing.
AI Summary
Local Bounti Corporation filed an 8-K on April 5, 2024, to report a notice of delisting or failure to satisfy a continued listing rule or standard. The company, formerly Leo Holdings III Corp., is incorporated in Delaware and headquartered in Hamilton, Montana.
Why It Matters
This filing indicates potential issues with Local Bounti's continued listing on an exchange, which could impact its stock trading and investor confidence.
Risk Assessment
Risk Level: high — A notice of delisting directly threatens the company's ability to remain publicly traded, posing a significant risk to its operations and investors.
Key Players & Entities
- Local Bounti Corporation (company) — Registrant
- Leo Holdings III Corp. (company) — Former company name
- Delaware (jurisdiction) — State of incorporation
- Hamilton, MT (location) — Principal executive offices
- April 3, 2024 (date) — Earliest event reported
- April 5, 2024 (date) — Date of report
FAQ
What specific listing rule or standard has Local Bounti Corporation failed to satisfy?
The filing does not specify the exact rule or standard that Local Bounti Corporation has failed to satisfy, only that a notice of delisting or failure to satisfy a continued listing rule or standard has been issued.
What is the date of the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing is April 3, 2024.
What was Local Bounti Corporation's former company name?
Local Bounti Corporation's former company name was Leo Holdings III Corp.
In which state is Local Bounti Corporation incorporated?
Local Bounti Corporation is incorporated in Delaware.
What is the address of Local Bounti Corporation's principal executive offices?
The address of Local Bounti Corporation's principal executive offices is 400 W. Main St., Hamilton, MT 59840.
Filing Stats: 1,383 words · 6 min read · ~5 pages · Grade level 15.1 · Accepted 2024-04-05 16:32:01
Key Financial Figures
- $0.0001 — registered Common Stock, par value of $0.0001 per share LOCL New York Stock Excha
- $50 million — ive 30 trading-day period was less than $50 million and, at the same time, its last reporte
Filing Documents
- d805670d8k.htm (8-K) — 33KB
- d805670dex991.htm (EX-99.1) — 8KB
- g805670g0405032339546.jpg (GRAPHIC) — 3KB
- g805670g0405072027198.jpg (GRAPHIC) — 4KB
- 0001193125-24-088526.txt ( ) — 183KB
- locl-20240403.xsd (EX-101.SCH) — 3KB
- locl-20240403_lab.xml (EX-101.LAB) — 18KB
- locl-20240403_pre.xml (EX-101.PRE) — 11KB
- d805670d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits. Exhibit number Description 99.1 Press Release, dated April 5, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 5, 2024 Local Bounti Corporation By: /s/ Kathleen Valiasek Name: Kathleen Valiasek Title: Chief Financial Officer