DAVIS, Calif.--(BUSINESS WIRE)--Jun. 18, 2015--
Arcadia Biosciences, Inc. (NASDAQ: RKDA) announced that it closed the
sale of an additional 328,306 shares of its common stock at the public
offering price of $8.00 per share pursuant to the exercise by the
underwriters of their option to purchase additional shares of common
stock in connection with Arcadia’s recently completed initial public
offering. The exercise of this option brings the total number of shares
of common stock sold by Arcadia in its initial public offering to
8,528,306 shares. Including proceeds from the exercise of the
underwriters’ option to purchase additional shares, gross proceeds from
Arcadia’s initial public offering were approximately $68.2 million.
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC acted
as joint lead book-running managers, and Piper Jaffray & Co. acted as an
additional book-running manager, for the offering.
About Arcadia Biosciences, Inc.
Based in Davis, Calif., with additional facilities in Seattle, Wash. and
Phoenix, Ariz., Arcadia Biosciences develops agricultural products that
create added value for farmers while benefiting the environment and
enhancing human health. Arcadia’s agronomic performance traits,
including Nitrogen Use Efficiency, Water Use Efficiency, Salt Tolerance,
Heat Tolerance and Herbicide Tolerance, are all aimed at making
agricultural production more economically efficient and environmentally
sound. Arcadia’s nutrition traits and products are aimed at creating
healthier ingredients and whole foods with lower production costs.
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Source: Arcadia Biosciences, Inc.
Arcadia Biosciences, Inc.
Jeff Bergau, +1-312-217-0419