Arcadia Biosciences, Inc. Announces Pricing of Initial Public Offering
Davis, Calif., May 14, 2015 – Arcadia Biosciences, Inc. announced today the pricing of its initial public offering of 8,200,000 shares of its common stock at a public offering price of $8.00 per share. The shares are expected to begin trading on The NASDAQ Global Market on May 15, 2015 under the symbol “RKDA.” The offering is expected to close on May 20, 2015, subject to customary closing conditions. In addition, Arcadia Biosciences has granted the underwriters a 30-day option to purchase up to an additional 1,230,000 shares of common stock.
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC are acting as joint lead book-running managers, and Piper Jaffray & Co. is acting as an additional book-running manager, for the offering.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission and was declared effective on May 14, 2015. The offering is being made only by means of a prospectus. A copy of the final prospectus for the offering may be obtained, when available, from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, phone: (800) 221-1037, email: email@example.com; or from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, phone: (866) 803-9204.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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. For more information, visit www.arcadiabio.com.