Arcadia Biosciences Inc. (NASDAQ: RKDA) announced it entered into securities purchase agreements for a $4 million private placement priced at-the-market under Nasdaq rules.

The company will sell 3,883,496 shares of common stock or pre-funded warrants at $1.03 per share. The offering includes Series A-1 and Series A-2 preferred investment options to purchase up to 3,883,496 shares each of common stock.

The Series A-1 options carry an exercise price of $0.91 per share and will be exercisable after stockholder approval, expiring five years from the approval date. The Series A-2 options have the same exercise price and are exercisable immediately upon issuance, expiring 24 months from the effective date of the resale registration statement.

H.C. Wainwright & Co. serves as the exclusive placement agent for the offering. The company expects to receive approximately $4 million in gross proceeds before deducting placement agent fees and other expenses.

Arcadia plans to use net proceeds for working capital and general corporate purposes. The offering is expected to close on or about June 12, 2026, subject to customary closing conditions.

The securities were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under federal or state securities laws. The company agreed to file registration statements with the SEC covering resale of the unregistered securities.

Arcadia Biosciences produces and markets wellness products and has been developing healthy ingredients since 2002.