Arcadia Biosciences, Inc. (NASDAQ:RKDA) Files An 8-K Other Events

In 2010, Arcadia Biosciences, Inc. (the “Company”) formed Limagrain Cereal Seeds LLC (“Limagrain Cereal”), a joint venture company with our strategic partner and collaborator in wheat, Vilmorin & Cie, a French corporation (“Limagrain”), focused on the development and commercialization of improved wheat seed in North America. A U.S. wholly owned subsidiary of Limagrain (“VUSA”) owned a 65% interest and the Company owned a 35% interest in the joint venture. After several years of productive development activities, both the Company and Limagrain remain committed to a partnership to develop and commercialize wheat-based products but have determined that the current joint venture arrangement is not the best structure through which to carry out their future collaboration. The parties are working diligently to determine the optimal forward construct.

In order to provide for a new construct, the Company, Limagrain and VUSA entered into an exchange agreement to which the Company transferred to VUSA the Company’s entire membership interest in Limagrain Cereal and VUSA transferred to the Company 1,843,888 shares of the Company’s common stock held by VUSA, effective as of March 31, 2017.  The Company cancelled and retired these shares upon receipt.

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 -0.006 at 0.800 with 4,048 shares trading hands.