Leo Holdings III Snaps Up Another $25M for Local Bounti PIPE

Leo Holdings III

Leo Holdings III today said it has secured an additional $25 million in private placement agreements to plump up its PIPE in support of the planned acquisition of agtech company Local Bounti. The additional funds boost the PIPE to $150 million. The SPAC also has about $275 million cash in trust.

The PIPE alone will satisfy the minimum cash requirement for the business combination to close, the SPAC said in a news release. Read more.

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