Benzinga | Dec 18, 2020 09:18AM EST

Arcadia Biosciences Announces $8M Registered Direct Offering Priced At-The-Market

DAVIS, Calif., Dec. 18, 2020 /PRNewswire/ -- Arcadia Biosciences, Inc.(r) (NASDAQ:RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, today announced that it has entered into definitive agreements with several institutional and other accredited investors for the purchase of 2,618,658 shares of its common stock, at a purchase price per share of $3.055, in a registered direct offering priced at-the-market under Nasdaq rules. Additionally, Arcadia has also agreed to issue to the investors unregistered warrants to purchase up to 2,618,658 shares of common stock. The closing of the offering is expected to occur on or about December 22, 2020, subject to the satisfaction of customary closing conditions.