Kirkland & Ellis advised Leo Holdings III Corp (NYSE: LIII), a publicly traded special purpose acquisition company, on its business combination with Local Bounti Corp., a U.S. indoor agriculture company. The transaction values the combined company at an equity value of $1.1 billion (assuming no redemptions) and upon closing of the transaction, the combined company is expected to remain listed on the New York Stock Exchange under the symbol “LOCL”.
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