LIII SEC filings, in plain English
Everything Leo Holdings III Corp. has filed with the SEC that we hold — 40 filings, newest first, 4 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Q2 2026 10-Q of Local Bounti Corporation (NYSE: LOCL), with 23,380,119 shares of common stock outstanding at August 7, 2026. Why it matters: This summary is drawn from the cover page and cautionary note of the report; the financial statements are not covered here. The quarter's figures are stated in the company's earnings release filed the same day (accession 0001628280-26-055950).
What changed vs 2026-05-15going concern APPEAREDgoing-concern doubt1 moved
- Going-concern doubt
- not statedstated
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“In accordance with Accounting Standards Codification ("ASC") 205-40, Going Concern, the Company’s management has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Exhibit 99.1 to an 8-K of Local Bounti Corporation (NYSE: LOCL): the August 12, 2026 press release reporting Q2 2026 results. Sales rose 14% to $13.9 million from $12.1 million and 4% sequentially from $13.3 million, which the company attributes to increased production at its Georgia, Texas and Washington facilities. Gross profit fell to $1.0 million from $1.5 million and adjusted gross margin to 27% from 30%, attributed to temporary packing inefficiencies at the Georgia facility that the company states have since been resolved. Why it matters: Revenue growth of 14% did not reach gross profit, which fell; the improvement in Adjusted EBITDA comes from cost reduction, and the measure excludes $4.5 million of quarterly interest expense that the $19.8 million net loss includes.
What changed: Local Bounti Corporation (LIII) entered into a Convertible Note and Warrant Purchase Agreement with U.S. Bounti, LLC (Charles R. Schwab) on or around August 7, 2026, issuing a convertible Note and Warrant in a private placement. The agreement also reflects a Twelfth Amendment to the Senior Credit Agreement with Cargill Financial Services dated August 1, 2025, and a new Subordination Agreement among the Purchaser, Senior Creditor, Company, and other parties. Why it matters: This is a post-close financing transaction by a former SPAC, indicating the company is raising new capital via convertible debt subordinated to its senior lender (Cargill). The repeated amendments to the Senior Credit Agreement (now twelve) and the restructuring agreement suggest ongoing financial distress or covenant strain, which is relevant for investors tracking the company's solvency and equity dilution risk.
What changed: Local Bounti Corporation called its annual meeting for June 10, 2026 at 9 a.m. Mountain Time exclusively by live audiocast, record date April 13, 2026. Beyond electing two Class II directors and ratifying WithumSmith+Brown, PC for the year ending December 31, 2026, holders are asked to approve, under New York Stock Exchange rules, the issuance of up to 7,882,861 shares of common stock on conversion of a convertible note issued to U.S. Bounti, LLC. Related warrants are exercisable from March 13, 2026 until 5:00 p.m. Why it matters: Requiring an NYSE shareholder vote means the 7,882,861 conversion shares exceed 20% of the outstanding count, so the note holder could become the largest holder on conversion. Warrants running a full ten years to March 2036 keep that dilution live for a decade, and liquidated damages payable in shares rather than cash mean a delivery failure adds still more stock. Local Bounti holders face conversion, warrant and penalty dilution from one financing package.
going-concern doubtnothing moved · 1 with no prior record of ours
- Going-concern doubt
- stated · unchanged
The clause …“In accordance with Accounting Standards Codification ("ASC") 205-40, Going Concern , the Company’s management has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.