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SPAC · Merger completed

Leo Holdings III Corp.

Business combination with Local Bounti Corporation

Leo Holdings III Corp. is a blank-check company (SPAC) that raised $240M in its initial public offering on Mar 2, 2021, listing on New York Stock Exchange. It completed its business combination with Local Bounti Corporation on Nov 19, 2021; the combined company is Local Bounti Corporation (LOCL). Lion Capital led the IPO. Kirkland & Ellis advised the SPAC and Ropes & Gray advised the underwriters on the IPO.

Local Bounti Corporation is a controlled environment agriculture company that operates an indoor growing facility in Hamilton, Montana. It grows non-GMO produce year-round using proprietary technology, without pesticides or herbicides, and supplies retail and food service partners.

Status
Merger completed
IPO date
Mar 2, 2021
IPO size
$240M
IPO exchange
New York Stock Exchange
Target
Local Bounti Corporation
Announced
Jun 21, 2021
Closed
Nov 19, 2021
Combined company
Local Bounti Corporation (LOCL)
IPO underwriters
Lion Capital
SPAC counsel (IPO)
Kirkland & Ellis and Maples and Calder
Underwriters' counsel (IPO)
Ropes & Gray

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