KRNL - SPAC LEO Holdings III is said to take indoor agriculture co. Local Bounti public

AnnaStills/iStock via Getty Images SPAC LEO Holdings III (LIII) is said in talks to take indoor agriculture startup Local Bounti public in a deal that will value the combined company at about $1.1B. Leo Holdings III raised $125M through a PIPE from investors including Fidelity Management and Cargill, according to a Bloomberg report. Cargill is also expected to provide $200M in debt financing.  A deal may announced as soon as tomorrow, according to the report. Yesterday, Bloomberg reported that SPAC Kernel Group (KRNL) is in talks to take urban farming company Infarm public. Local Bounti competes with AeroFarms, which announced a deal to go public through combination a with SPAC Spring Valley Acquisition Corp.(SV) in late March and with AppHarvest (APPH),  which went public through a SPAC deal in February.

For further details see:

SPAC LEO Holdings III is said to take indoor agriculture co. Local Bounti public