HAMILTON, Mont., Oct. 4, 2021 /PRNewswire/ -- Breakthrough
U.S. indoor agriculture company Local Bounti Corporation ("Local
Bounti"), today announced it will host a virtual Investor and
Analyst Day in connection with its previously announced business
combination with Leo Holdings III Corp ("Leo") (NYSE: LIII), a
publicly-traded special purpose acquisition company (the "Business
Combination"). The event will be held on Wednesday, October 13, 2021, at 1:00 p.m. Eastern Time.
Local Bounti's Co-CEOs Craig
Hurlbert and Travis Joyner
and Chief Financial Officer Kathleen
Valiasek will present Local Bounti's differentiated approach
to Controlled Environment Agriculture ("CEA"), growth strategies
and key financial and operating highlights. Attendees will
also have the opportunity to participate in a live Q&A session
with the Local Bounti management team.
In June 2021, Local Bounti and Leo
announced that they entered into a definitive business combination
agreement. Leo's Class A ordinary shares and warrants are currently
traded on The New York Stock Exchange (the "NYSE") under the ticker
symbols "LIII" and "LIII WS," respectively. Upon the closing of the
proposed Business Combination between Leo and Local Bounti, which
remains subject to customary closing conditions, Local Bounti
expects its common stock and warrants to trade on the NYSE under
the new ticker symbols, "LOCL" and "LOCLW," respectively.
Investor Conference Details
Interested parties can register to attend the event here.
A replay of the webcast will be made available on the Investor
Relations section of Local Bounti's website at
investors.localbounti.com.
For more information about the company, visit localbounti.com or
follow the company on LinkedIn. For investor information and
updates, visit investors.localbounti.com.
About Local Bounti
Local Bounti is a premier controlled environment agriculture
(CEA) company redefining conversion efficiency and environmental,
social and governance (ESG) standards for indoor agriculture. Local
Bounti operates an advanced indoor growing facility in Hamilton, Montana, within a few hours' drive
of its retail and food service partners. Reaching retail shelves in
record time post-harvest, Local Bounti produce is superior in taste
and quality compared to traditional field-grown greens. Local
Bounti's USDA Harmonized Good Agricultural Practices (GAP Plus+)
and non-genetically modified organisms (GMO) produce is sustainably
grown using proprietary technology 365 days a year, free of
pesticides and herbicides, and using 90 percent less land and water
than conventional outdoor farming methods. With a mission to 'bring
our farm to your kitchen in the fewest food miles possible,' Local
Bounti is disrupting the cultivation and delivery of produce. Local
Bounti is also committed to making meaningful connections and
giving back to each of the communities it serves. To find out more,
visit localbounti.com or follow the company
on LinkedIn for the latest news and developments.
Additional Information
In connection with the Business Combination, Leo filed with the
U.S. Securities and Exchange Commission ("SEC"), on
July 19, 2021, a Registration Statement
on Form S-4 (as amended or supplemented through the
date hereof, the "Registration Statement"), containing a
preliminary prospectus and preliminary proxy statement. After the
Registration Statement is declared effective, Leo will mail a
definitive joint proxy statement/prospectus and other relevant
documents to its shareholders and public warrant holders. This
communication is not a substitute for the Registration Statement,
the definitive joint proxy statement/prospectus or any other
document that Leo will send to its shareholders in connection with
the Business Combination and public warrant holders in connection
with the proposed amendment to the warrant agreement that governs
all of Leo's outstanding warrants (the "Warrant
Amendment"). Investors and security holders of Leo are
advised to read the preliminary joint proxy statement/prospectus in
connection with Leo's solicitation of proxies for its extraordinary
general meeting of shareholders to be held to approve the Business
Combination (and related matters) and special meeting of public
warrant holders to be held to approve the proposed Warrant
Amendment and, when available, any amendments thereto and the
definitive joint proxy statement/prospectus, because the joint
proxy statement/prospectus contains important information about the
Business Combination and the parties to the Business Combination
and the proposed Warrant Amendment. The definitive joint
proxy statement/prospectus will be mailed to shareholders and
public warrant holders of Leo as of a record date to be established
for voting at each of the extraordinary general meeting of
shareholders and special meeting of public warrant holders.
Shareholders and public warrant holders will also be able to obtain
copies of the preliminary joint proxy statement/prospectus, the
definitive joint proxy statement/prospectus and other documents
filed with the SEC without charge, once available, at the SEC's
website at www.sec.gov or by directing a request to: Leo Holdings
III Corp, 21 Grosvenor Pl, London
SW1X 7HF, United Kingdom.
Participants in the Solicitation
Leo and its directors, executive officers, other members of
management, and employees, under SEC rules, may be deemed to be
participants in the solicitation of proxies of Leo's shareholders
in connection with the Business Combination and public warrant
holders in connection with the proposed Warrant
Amendment. Investors and security holders may obtain more
detailed information regarding the names of Leo's directors and
executive officers and a description of their interests in Leo in
Leo's filings with the SEC, including the preliminary joint proxy
statement/prospectus of Leo for the Business
Combination. Shareholders and public warrant holders will
also be able to obtain copies of the preliminary joint proxy
statement/prospectus, the definitive joint proxy
statement/prospectus and other documents filed with the SEC without
charge, once available, at the SEC's website at www.sec.gov or by
directing a request to: Leo Holdings III Corp, 21 Grosvenor Pl,
London SW1X 7HF, United Kingdom.
Local Bounti and its directors and executive officers may also
be deemed to be participants in the solicitation of proxies from
the shareholders of Leo in connection with the Business Combination
and the public warrant holders of Leo in connection with the
proposed Warrant Amendment. A list of the names of such directors
and executive officers and information regarding their interests in
the proposed business combination will be included in the
definitive joint proxy statement/prospectus for the Business
Combination when available.
Forward Looking Statements
This communication includes "forward-looking statements" within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. Leo's and Local Bounti's
actual results may differ from their expectations, estimates and
projections and consequently, you should not rely on these
forward-looking statements as predictions of future events. Words
such as "expect," "estimate," "project," "budget," "forecast,"
"anticipate," "intend," "plan," "may," "will," "could," "should,"
"believes," "predicts," "potential," "continue," and similar
expressions are intended to identify such forward-looking
statements. These forward-looking statements include, without
limitation, Leo's and Local Bounti's expectations with respect to
future performance and anticipated financial impacts of the
proposed Business Combination, the satisfaction of the closing
conditions to the Business Combination and the timing of the
completion of the Business Combination. These forward-looking
statements involve significant risks and uncertainties that could
cause the actual results to differ materially from the expected
results. Most of these factors are outside Leo's and Local Bounti's
control and are difficult to predict. Factors that may cause such
differences include, but are not limited to: (1) the occurrence of
any event, change or other circumstances that could give rise to
the termination of the Agreement and Plan of Merger, dated as of
June 17, 2021 (as it may be amended,
supplemented or otherwise modified from time to time, the "Merger
Agreement"), by and among Leo, Longleaf Merger Sub, Inc., Longleaf
Merger Sub II, LLC and Local Bounti, (2) the outcome of any
legal proceedings that may be instituted against Leo and Local
Bounti following the announcement of the Merger Agreement and the
transactions contemplated therein; (3) the inability to complete
the proposed Business Combination, including due to failure to
obtain approval of the shareholders of Leo or other conditions to
closing in the Merger Agreement; (4) the occurrence of any event,
change or other circumstance that could give rise to the
termination of the Merger Agreement or could otherwise cause the
Business Combination to fail to close; (5) the amount of redemption
requests made by Leo's shareholders; (6) the inability to obtain or
maintain the listing of the post-business combination company's
common stock on the New York Stock Exchange following the proposed
Business Combination; (7) the risk that the proposed Business
Combination disrupts current plans and operations as a result of
the announcement and consummation of the proposed Business
Combination; (8) the ability to recognize the anticipated benefits
of the proposed Business Combination, which may be affected by,
among other things, competition, the ability of the combined
company to grow and manage growth profitably and retain its key
employees; (9) costs related to the proposed Business Combination;
(10) changes in applicable laws or regulations; (11) the
possibility that Local Bounti or the combined company may be
adversely affected by other economic, business, and/or competitive
factors; and (12) other risks and uncertainties indicated from time
to time in the proxy statement relating to the proposed Business
Combination, including those under "Risk Factors" and "Cautionary
Note Regarding Forward-Looking Statements" in Leo's Quarterly
Report on Form 10-Q for the fiscal quarter ended June 30, 2021, and which are set forth in the
Registration Statement filed by Leo and in Leo's other filings with
the SEC. Some of these risks and uncertainties may in the future be
amplified by the COVID-19 outbreak and there may be additional
risks that we consider immaterial or which are unknown. It is not
possible to predict or identify all such risks. Leo cautions that
the foregoing list of factors is not exclusive. Leo cautions
readers not to place undue reliance upon any forward-looking
statements, which speak only as of the date they are made. Leo does
not undertake or accept any obligation or undertaking to update or
revise any forward-looking statements to reflect any change in its
expectations or any change in events, conditions or circumstances
on which any such statement is based.
No Offer or Solicitation
This communication is for informational purposes only and is
neither an offer to purchase, nor a solicitation of an offer to
sell, subscribe for or buy any securities or the solicitation of
any vote in any jurisdiction pursuant to the Business Combination
or otherwise, nor shall there be any sale, issuance or transfer or
securities in any jurisdiction in contravention of applicable law.
No offer of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the
Securities Act and otherwise in accordance with applicable law.
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SOURCE Local Bounti