Local Bounti Corp. (LOCL), an indoor agriculture company, announced on Wednesday that it has received an additional $15 million under the amended credit facility with Cargill Financial Services International, Inc.
The company said that it intends to use the fund for working capital, lowering its cost of capital and to pay-off existing debt.
Following the announcement, the stock of Local Bounti is gaining 4.05 percent, to $2.1850 over the previous close of $2.1 on the New York Stock Exchange.
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