Local Bounti Corporation announced the successful closing of its approximately $1.1 billion business combination with Leo Holdings III, a publicly traded special purpose acquisition company, on November 19, 2021. As a result of the closing of the business combination, Leo was renamed Local Bounti Corporation. The common stock and public warrants of Local Bounti will begin trading on the New York Stock Exchange today, November 22, 2021, under the ticker symbols "LOCL" and "LOCL WS," respectively.

Edward C. Forst, Chairman of Leo: "Local Bounti's management team and business model make it well-positioned to enter the public market and launch into this next chapter. We are excited to support the company's future growth."

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