Local Bounti Receives Continued Listing Standard Notice from NYSE

Core Viewpoint - Local Bounti Corporation has received a notice from the NYSE regarding non-compliance with continued listing standards due to its market capitalization and stockholders' equity being below $50 million [1] Group 1: NYSE Compliance - On February 5, 2026, Local Bounti received a notice from the NYSE indicating it is not in compliance with the Minimum Market Capitalization Standard [1] - The company's average global market capitalization over a consecutive 30 trading-day period was less than $50 million, and its stockholders' equity was also below $50 million [1] - Local Bounti plans to submit a compliance plan to the NYSE within 45 days, aiming to regain compliance within nine months [1] Group 2: Impact and Future Actions - The notice does not have an immediate impact on the trading of Local Bounti's common stock, which will continue to trade during the Market Capitalization Cure Period [1] - The company is exploring all available options to regain compliance with NYSE standards but cannot guarantee success [1] Group 3: Company Overview - Local Bounti is an innovative indoor agriculture company utilizing patented Stack & Flow Technology® to enhance crop yields and improve unit economics [1] - The company operates advanced indoor growing facilities across the U.S., servicing approximately 13,000 retail doors [1] - Local Bounti's sustainable farming methods use 90% less land and water compared to conventional farming, aiming to provide fresh, nutritious produce [1]