US indoor agriculture company Local Bounti has raised $15 million through a convertible note issued to an existing strategic investor, as the company works to stabilise its financial position following a continued listing notice from the New York Stock Exchange. The funding was announced on March 16, 2026, with full terms disclosed in a Current Report on Form 8-K filed with the Securities and Exchange Commission.
© Local Bounti
"We are pleased to continue to have the strong support of our financing partners as we execute on our growth strategy," said Kathleen Valiasek, President and Chief Executive Officer of Local Bounti. "This additional capital from an existing strategic investor provides us with the financial flexibility to invest in our operations and drive long-term value creation."
The raise comes five weeks after Local Bounti received a continued listing standard notice from the NYSE on February 5, citing a 30-day average market capitalisation and stockholders' equity below the exchange's $50 million threshold. The company has 45 days from that notice to submit a compliance plan and nine months to regain full compliance. Trading continues during the cure period.
Local Bounti operates indoor growing facilities across Texas, Washington, and Georgia using its patented Stack & Flow Technology, a hybrid of vertical farming and hydroponic greenhouse production. The company reported 19% year-over-year revenue growth in the third quarter of 2025 and has targeted positive adjusted EBITDA in early 2026.
Source: Local Bounti
Local Bounti secures $15 million convertible note amid NYSE compliance proceedings
