Dec. 27 at 4:55 PM
$LOCL
Know what you own. This is in addition to the huge pile of warrants that Cargill has that has had exercise price lowered several times from
$13 to 6.50 to 3 or 4 last time I saw after many technical defaults of their loan. Cargill can take them to 10 cents if they want to.
What are the terms of the LOCL bounti warrants?
The LOCL Bounti warrants include the following key terms:
Exercise Price: The exercise price is set at
$0.125 per share of Common Stock.
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Term: The warrants have a 10-year term and can be exercised at any time between August 1, 2025, and August 1, 2035.
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Number of Shares: Up to 550,000 shares of Common Stock can be issued upon the exercise of the warrants.
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Conversion: The warrants are convertible into shares of Common Stock at the exercise price.
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Interest: The convertible note includes a 6.0% annual interest rate that is payable in kind.
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