Local Bounti rises on strong 2023 revenue outlook

Local Bounti

29/03/2023 12:51

** Shares of controlled environment agriculture co Local
Bounti  LOCL.N  up 35.7% at $0.61 in premarket trading 
    ** Co expects FY23 sales of $34 mln to $40 mln  urn:newsml:reuters.com:*:nTUA89PRGB 
    ** Posts sales of $19.5 mln in 2022, compared with $0.6 mln
a year earlier
    ** Co also secures up to $145 mln of additional financing to
support growth
    ** Up to Tuesday's close, stock had fallen ~68% YTD 

 (Reporting by Amna Karimi in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))