Arcadia Biosciences, Inc. (NASDAQ:RKDA) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing.
On February 14, 2017, Arcadia Biosciences, Inc. (the Company)
received a notification letter from The Nasdaq Stock Market LLC
(Nasdaq) indicating that for 30 consecutive business days the
Company’s common stock did not maintain a minimum closing bid
price of $1.00 (Minimum Bid Price Requirement) per share as
required by Nasdaq Listing Rule 5450(a)(1) (Rule).
The Nasdaq notification has no immediate effect on the listing or
trading of the Companys common stock on the Nasdaq Global
Market.Consistent with the Rule, Nasdaq provided the Company a
cure period in order to regain compliance as follows:
|
if during the 180 calendar days following the date of the |
|
if the Company chooses to implement a reverse stock |
In the event the Company does not regain compliance with the
Rule, the Company may be eligible for additional time. If the
Company does not achieve compliance with the Minimum Bid Price
Requirement by August 14, 2017, Nasdaq will provide written
notification to the Company that the common stock is subject to
delisting.
The Company intends to monitor the closing bid price of its
common stock and may, if appropriate, consider implementing
available options to regain compliance with the Minimum Bid Price
Requirement under the Nasdaq Listing Rules.
About Arcadia Biosciences, Inc. (NASDAQ:RKDA)
Arcadia Biosciences, Inc. is an agricultural biotechnology trait company. The Company develops a portfolio of yield and traits addressing multiple crops that supply the global food and feed markets. It has a pipeline of products in development incorporating its traits, including products that are in advanced stages of development or on the market. Its crop yield traits are utilized by its partners to develop higher yielding seeds for global crops, including wheat, rice, soybean, corn, and sugarcane, as well as for other crops, such as cotton, turf and trees. The Company’s portfolio of agricultural productivity traits includes Nitrogen Use Efficiency (NUE), Water Use Efficiency (WUE), Drought Tolerance (DT), Salinity Tolerance (ST) and Herbicide Tolerance. It has presence in the United States, Africa, India, the United Arab Emirates, Belgium, France and Canada. Arcadia Biosciences, Inc. (NASDAQ:RKDA) Recent Trading Information
Arcadia Biosciences, Inc. (NASDAQ:RKDA) closed its last trading session down -0.070 at 0.970 with 199,523 shares trading hands.