Arcadia Biosciences Experiences $2.1 Million in Gross Proceeds from Preferred Investment Options

Arcadia Biosciences (RKDA) announces the immediate exercise of preferred investment options for $2.1 million gross proceeds. The company will issue new unregistered preferred investment options to purchase up to 1,617,190 shares of common stock at $2.325 per share. The net proceeds will be used for working capital and general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.