Form 4 for LOCL Local Bounti Corporation/DE
Accepted 2025-04-02 00:00:00 ET · period of report 2025-03-31 · accession 0000950170-25-049570 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DI | 2025-04-02 | 2025-03-31 | LOCL | Schwab Charles R. | 10% | P - Purchase | $2.00 | +1.70M | 1.70M | New | +$3.40M |
| DI | 2025-04-02 | 2025-03-31 | LOCL | Schwab Charles R. | 10% | P - Purchase | $2.00 | +10.30M | 10.30M | New | +$20.60M |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2025-03-31 | P | A | 1,700,723 | $2.00 | 1,700,723 | I By LLC | — | — | (F1) Shares owned by U.S. Bounti, LLC. |
| 2 | Derivative | Series A Non-Voting Convertible Preferred Stock | 2025-03-31 | P | A | 10,299,277 | $2.00 | 10,299,277 | I By LLC | — · — to — | 10,299,277 Common Stock | (F1) Shares owned by U.S. Bounti, LLC. (F6) Pursuant to the terms of the Securities Purchase Agreement, the Issuer will submit to its stockholders the approval of the issuance of Common Stock issuable upon conversion of the Preferred Stock into shares of Common Stock at its 2025 annual meeting of stockholders (the "Conversion Proposal"). Prior to such approval of the Conversion Proposal, the number of shares of Common Stock issuable upon conversion of the Preferred Stock, when aggregated with the number of shares of Common Stock issued at the closing of the Securities Purchase Agreement, will not exceed 19.99% of the Issuer's issued and outstanding Common Stock. Following such approval of the Conversion Proposal, each share of Preferred Stock will automatically convert into one share of Common Stock. The Preferred Stock is redeemable at the option of the holder at the purchase price if not automatically converted within one year from the date of issuance. The Preferred Stock has no expiration date. (F5) On March 31, 2025, U.S. Bounti, LLC, certain other purchasers and Local Bounti Corporation (the "Issuer") entered into an agreement (the "Securities Purchase Agreement") under which U.S. Bounti, LLC purchased from the Issuer 10,299,277 shares of Series A Non-Voting Convertible Preferred Stock ("Preferred Stock") at a price of $2 per share. (Con't in Footnote 6) |