Leo Holdings III shareholders voted in favor of merging with Local Bounti, a disruptive AgTech company. Approval of the deal was expected, as the SPAC announced Monday it already had a quorum on the vote and sufficient cash to satisfy minimum requirements regardless of any redemptions.
The transaction is expected to close early next week.
Local Bounti stock and warrants are expected to begin trading following closing on the NYSE under LOCL and LOCL WS.
Local Bounti operates an advanced indoor growing facility in Hamilton, Montana, within a few hours’ drive of its retail and food service partners. Read more.
