{"id":404704,"date":"2020-12-22T13:03:30","date_gmt":"2020-12-22T18:03:30","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404704"},"modified":"2020-12-22T13:03:30","modified_gmt":"2020-12-22T18:03:30","slug":"arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/","title":{"rendered":"Arcadia Biosciences (RKDA) Announces Closing of $8.0 Million Registered Direct Offering Priced At-the-Market"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">&#8212; Net proceeds to fuel GoodWheat\u2122 direct-to-consumer, e-commerce and retail customer acquisition and revenue generation &#8212;<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">DAVIS, Calif.<\/span>, <span class=\"xn-chron\">Dec. 22, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3020398-1&amp;h=3108866695&amp;u=https%3A%2F%2Farcadiabio.com%2F&amp;a=Arcadia+Biosciences%2C+Inc.\" rel=\"nofollow noopener noreferrer\">Arcadia Biosciences, Inc.<\/a><sup>\u00ae<\/sup>\u00a0(Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, today announced the closing of its previously announced registered direct offering of 2,618,658 shares of its common stock. The offering was priced at-the-market at a purchase price per share of <span class=\"xn-money\">$2.93<\/span>, for gross proceeds of approximately <span class=\"xn-money\">$7.7 million<\/span>. Additionally, in a concurrent private placement, <span class=\"xn-location\">Arcadia<\/span> issued unregistered warrants to purchase up to 2,618,658 shares of common stock, representing 100 percent of the shares of common stock purchased in the registered direct offering. Each warrant was sold at a price of <span class=\"xn-money\">$0.125<\/span> per underlying warrant share for gross proceeds of approximately <span class=\"xn-money\">$327,000<\/span>. Each warrant has an exercise price of <span class=\"xn-money\">$3.00<\/span> per share, is exercisable immediately and will expire five and one-half years from the issuance date.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/960850\/Arcadia_Logo.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/960850\/Arcadia_Logo.jpg\" title=\"Arcadia Biosciences Logo (PRNewsfoto\/Arcadia Biosciences, Inc.)\" alt=\"Arcadia Biosciences Logo (PRNewsfoto\/Arcadia Biosciences, Inc.)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>The net proceeds of the offering are estimated to be approximately <span class=\"xn-money\">$7.3 million<\/span> after deducting placement agent fees and other estimated offering expenses. <span class=\"xn-location\">Arcadia<\/span> intends to use the net proceeds from this offering to fund GoodWheat customer acquisition costs, including digital marketing programs, brand and retail channel development and general corporate costs.<\/p>\n<p>&#8220;Firmly establishing our GoodWheat family of consumer brands, including Three Farm Daughters, and ensuring our digital marketing assets are properly built for scale is essential to the successful ramp up of our revenues in 2021,&#8221; said <span class=\"xn-person\">Matthew Plavan<\/span>, president and CEO of <span class=\"xn-location\">Arcadia<\/span>. &#8220;We believe the proceeds of this financing provide the capital to properly fund these efforts and better equip us to stay the course even amidst potential continued economic volatility in 2021.&#8221; <\/p>\n<p>H.C. Wainwright &amp; Co. acted as the exclusive placement agent for the offering.<\/p>\n<p>The shares of common stock described above (but not the warrants or the shares of common stock underlying the warrants) were offered pursuant to a &#8220;shelf&#8221; registration statement (File 333-224893) filed with the Securities and Exchange Commission (SEC) and declared effective on <span class=\"xn-chron\">June 8, 2018<\/span>. The offering of such shares of common stock was made by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the final prospectus supplement and the accompanying prospectus relating to this offering may be obtained on the SEC&#8217;s website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3020398-1&amp;h=3505953326&amp;u=http%3A%2F%2Fwww.sec.gov%2F&amp;a=www.sec.gov\" rel=\"nofollow noopener noreferrer\">www.sec.gov<\/a>\u00a0or by contacting H.C. Wainwright &amp; Co., LLC at 430 Park Avenue, 3rd Floor, <span class=\"xn-location\">New York, NY<\/span> 10022, by emailing <a target=\"_blank\" href=\"mailto:placements@hcwco.com\" rel=\"nofollow noopener noreferrer\">placements@hcwco.com<\/a>\u00a0or by calling (646) 975-6996.<\/p>\n<p>The warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the &#8220;Act&#8221;), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of common stock may not be offered or sold in <span class=\"xn-location\">the United States<\/span> except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.<\/p>\n<p>This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, 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.<\/p>\n<p>\n        <b>About Arcadia Biosciences, Inc.<br \/><\/b>Arcadia Biosciences (Nasdaq: RKDA) is a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients. The company&#8217;s GoodWheat\u2122 branded ingredients deliver health benefits to consumers and enable consumer packaged goods companies to differentiate their brands in the marketplace. <span class=\"xn-location\">Arcadia&#8217;s<\/span> GoodHemp<sup>TM<\/sup> seed catalog delivers genetically superior hemp seeds, transplants and extracts, applying the company&#8217;s proprietary crop innovation technology, ArcaTech\u2122, to an emerging crop. For more information, visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3020398-1&amp;h=2329923342&amp;u=https%3A%2F%2Farcadiabio.com%2F&amp;a=www.arcadiabio.com\" rel=\"nofollow noopener noreferrer\">www.arcadiabio.com<\/a><u>.<\/u><\/p>\n<p>\n        <b>Note Regarding Forward-Looking Statements<br \/><\/b>This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the company&#8217;s expectations regarding the intended use of proceeds from the offering and the impact of these proceeds on the company&#8217;s business. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, without limitation, the future capital requirements of the company are different than expected and other risks set forth in the company&#8217;s filings with the Securities and Exchange Commission from time to time, including the risks set forth in the company&#8217;s annual report on Form 10-K for the year ended <span class=\"xn-chron\">December 31, 2019<\/span> and other filings. These forward-looking statements speak only as of the date hereof, and Arcadia Biosciences, Inc. disclaims any obligation to update these forward-looking statements.<\/p>\n<p>LinkedIn:<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3020398-1&amp;h=1405203142&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Farcadiabiosciences%2F&amp;a=%C2%A0\" rel=\"nofollow noopener noreferrer\">\u00a0<\/a><u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3020398-1&amp;h=3811909893&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Farcadiabiosciences%2F&amp;a=Arcadia+Biosciences\" rel=\"nofollow noopener noreferrer\">Arcadia Biosciences<\/a><br \/><\/u>Twitter:<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3020398-1&amp;h=2707581833&amp;u=https%3A%2F%2Ftwitter.com%2FArcadiaAg&amp;a=%C2%A0\" rel=\"nofollow noopener noreferrer\">\u00a0<\/a><u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3020398-1&amp;h=4159484747&amp;u=https%3A%2F%2Ftwitter.com%2FArcadiaAg&amp;a=%40ArcadiaAg\" rel=\"nofollow noopener noreferrer\">@ArcadiaAg<\/a><\/u><\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF31565&amp;sd=2020-12-22\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market-301197689.html\">http:\/\/www.prnewswire.com\/news-releases\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market-301197689.html<\/a><\/p>\n<p>SOURCE  Arcadia Biosciences, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=SF31565&amp;Transmission_Id=202012221300PR_NEWS_USPR_____SF31565&amp;DateId=20201222\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8212; Net proceeds to fuel GoodWheat\u2122 direct-to-consumer, e-commerce and retail customer acquisition and revenue generation &#8212; PR Newswire DAVIS, Calif., Dec. 22, 2020 \/PRNewswire\/ &#8212;\u00a0Arcadia Biosciences, Inc.\u00ae\u00a0(Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, today announced the closing of its previously announced registered direct offering of 2,618,658 shares of its common stock. The offering was priced at-the-market at a purchase price per share of $2.93, for gross proceeds of approximately $7.7 million. Additionally, in a concurrent private placement, Arcadia issued unregistered warrants to purchase up to 2,618,658 shares of common stock, representing 100 percent of the shares of common stock purchased in the registered direct offering. Each warrant was &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Arcadia Biosciences (RKDA) Announces Closing of $8.0 Million Registered Direct Offering Priced At-the-Market&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404704","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Arcadia Biosciences (RKDA) Announces Closing of $8.0 Million Registered Direct Offering Priced At-the-Market - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arcadia Biosciences (RKDA) Announces Closing of $8.0 Million Registered Direct Offering Priced At-the-Market - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"&#8212; Net proceeds to fuel GoodWheat\u2122 direct-to-consumer, e-commerce and retail customer acquisition and revenue generation &#8212; PR Newswire DAVIS, Calif., Dec. 22, 2020 \/PRNewswire\/ &#8212;\u00a0Arcadia Biosciences, Inc.\u00ae\u00a0(Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, today announced the closing of its previously announced registered direct offering of 2,618,658 shares of its common stock. The offering was priced at-the-market at a purchase price per share of $2.93, for gross proceeds of approximately $7.7 million. Additionally, in a concurrent private placement, Arcadia issued unregistered warrants to purchase up to 2,618,658 shares of common stock, representing 100 percent of the shares of common stock purchased in the registered direct offering. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/","og_locale":"en_US","og_type":"article","og_title":"Arcadia Biosciences (RKDA) Announces Closing of $8.0 Million Registered Direct Offering Priced At-the-Market - Market Newsdesk","og_description":"&#8212; Net proceeds to fuel GoodWheat\u2122 direct-to-consumer, e-commerce and retail customer acquisition and revenue generation &#8212; PR Newswire DAVIS, Calif., Dec. 22, 2020 \/PRNewswire\/ &#8212;\u00a0Arcadia Biosciences, Inc.\u00ae\u00a0(Nasdaq: RKDA), a leader in science-based approaches to enhancing the quality and nutritional value of crops and food ingredients, today announced the closing of its previously announced registered direct offering of 2,618,658 shares of its common stock. The offering was priced at-the-market at a purchase price per share of $2.93, for gross proceeds of approximately $7.7 million. Additionally, in a concurrent private placement, Arcadia issued unregistered warrants to purchase up to 2,618,658 shares of common stock, representing 100 percent of the shares of common stock purchased in the registered direct offering. Each warrant was &hellip; Continue reading \"Arcadia Biosciences (RKDA) Announces Closing of $8.0 Million Registered Direct Offering Priced At-the-Market\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-22T18:03:30+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/960850\/Arcadia_Logo.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Arcadia Biosciences (RKDA) Announces Closing of $8.0 Million Registered Direct Offering Priced At-the-Market","datePublished":"2020-12-22T18:03:30+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/"},"wordCount":838,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/960850\/Arcadia_Logo.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/arcadia-biosciences-rkda-announces-closing-of-8-0-million-registered-direct-offering-priced-at-the-market\/","name":"Arcadia Biosciences (RKDA) Announces Closing of $8.0 Million Registered Direct Offering Priced At-the-Market - 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