Arcadia Biosciences raises $2.1 million through preferred option exercise

Arcadia Biosciences Inc. (NASDAQ: RKDA) announced the exercise of outstanding preferred investment options for gross proceeds of approximately $2.1 million. The company entered into definitive agreements for the immediate exercise of 808,595 shares originally issued between December 2020 and March 2023.

The preferred investment options had an original exercise price of $9.00 per share but were exercised at a reduced price of $2.575 per share. The shares are registered under existing registration statements on Forms S-1 and S-3 filed with the Securities and Exchange Commission.

H.C. Wainwright & Co. is serving as the exclusive placement agent for the offering. The transaction is expected to close on January 12, 2026, subject to customary closing conditions.

As part of the arrangement, Arcadia will issue new unregistered preferred investment options to purchase up to 1,617,190 shares of common stock. These new options carry an exercise price of $2.325 per share, are immediately exercisable, and expire thirty months after the effective date of a resale registration statement the company plans to file.

The company stated it intends to use net proceeds for working capital and general corporate purposes. The new preferred investment options were offered through a private placement under an exemption from Securities Act registration requirements.

Arcadia Biosciences produces and markets wellness products and has been developing health-focused ingredients since 2002.

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