Arcadia Biosciences Plans $101 Million IPO

Arcadia Biosciences (RKDA) is planning to raise $101 million in an IPO on Wednesday, May 13th. The company plans to issue 7,200,000 shares at a price of $13.00-$15.00 per share.

In the last 12 months, Arcadia Biosciences generated $7 million in revenue and had a net loss of $22.1 million. The company has a market cap of $532 million.

Credit Suisse, J.P. Morgan and Piper Jaffray served as the underwriters for the IPO.

Arcadia Biosciences provided the following description of their company for its IPO: “We are a leading agricultural biotechnology trait development company with an extensive and diversified portfolio of late-stage crop productivity and product quality traits addressing multiple crops that supply the global food and feed markets. Our traits are focused on high-value enhancements that increase crop yields by enabling plants to more efficiently manage environmental and nutrient stresses, and that enhance the quality and value of agricultural products. Our traits increase value not only for farmers, but also for users of agricultural products. There currently are more than 50 products in development incorporating our traits and there are 13 in advanced stages of development or on the market.”