Arcadia Biosciences, Inc., a Davis, Calif.-based agricultural biotechnology company, began trading on The NASDAQ Global Market on May 15, 2015 under the symbol “RKDA”.
It has offered 8,200,000 shares of its common stock at a public price of $8.00 per share.
The offering is now 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.
Led by Eric Rey, president and CEO, Arcadia Biosciences develops agricultural products. Its 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. The company, which has additional facilities in Seattle, Wash. and Phoenix, Ariz., is venture backed by Mandala Capital Limited, CMEA Capital, BASF Venture Capital, and Saints Capital.
FinSMEs
18/05/2015