newsfilter
← Latest News
GlobeNewswire·

Arcadia Biosciences (RKDA) Announces Closing of $4 Million Private Placement Priced At-The-Market Under Nasdaq Rules

RKDA
  • Arcadia Biosciences closed a private placement of 3,883,496 shares of common stock & associated Series A-1 & Series A-2 preferred investment options priced at $1.03 per share.
  • H.C. Wainwright & Co. served as the exclusive placement agent for the offering conducted under Nasdaq rules.
  • Series A-1 options carry a $0.91 exercise price, become exercisable upon stockholder approval effective date, & expire five years thereafter.
  • Series A-2 options carry a $0.91 exercise price, are exercisable immediately upon issuance, & expire twenty-four months from the Resale Registration Statement effective date.
  • The offering generated approximately $4 million in gross proceeds before fees & expenses, which the company will use for working capital & general corporate purposes.
  • Securities were issued under Section 4(a)(2) of the Securities Act & Regulation D without registration, subject to a registration rights agreement to file a Resale Registration Statement for future resale.
  • Forward-looking statements regarding funding & use of proceeds are included but are subject to risks that could cause actual results to differ materially from anticipated outcomes.