Local Bounti Corporation/DE

Capital Structure

The Company ended the quarter with cash and cash equivalents and restricted cash of $18.8 million as of March 31, 2026.

As previously disclosed, in March 2026, the Company received a $15 million investment from an existing strategic investor, further demonstrating continued confidence in Local Bounti’s business and long-term growth trajectory. Combined with the transactions the Company executed in 2025, Local Bounti has the financial flexibility to be strategic with partnerships and growth investments as it advances toward profitability.

As of March 31, 2026, Local Bounti had approximately 22.8 million shares outstanding, 6.8 million common shares under warrants outstanding, and approximately 2.4 million restricted stock units outstanding. The Company also has out-of-the-money convertible notes that, if converted, would result in the issuance of approximately 9.7 million common shares. Including the shares issuable in the event of conversion of the convertible note, as well as the warrants and restricted stock units, the Company had a fully diluted share count of approximately 41.6 million shares outstanding as of March 31, 2026.