DAVIS, Calif.--(BUSINESS WIRE)--Arcadia Biosciences, Inc. announced today the launch of its initial public offering of 7,150,000 shares of common stock (the “Offering”) pursuant to a registration statement filed on Form S-1 with the Securities and Exchange Commission. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 1,072,500 shares of its common stock. The estimated initial public offering price range is $13.00 to $15.00 per share. Arcadia has applied to list its common stock on The NASDAQ Global Market under the symbol “RKDA.”
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.
The Offering will be made only by means of a prospectus. Copies of the preliminary prospectus relating to the Offering may be obtained from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, phone: (800) 221-1037, email: newyork.prospectus@credit-suisse.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.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet been declared effective. These securities may not be sold nor may offers to buy these securities be accepted prior to the time the registration statement is declared effective. 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.