Arcadia Biosciences: Falls on discounted $25.1 mln stock offering
25/01/2021 15:36
** Agricultural biotech co's shares RKDA.O fall 13.5% to
$2.98; second biggest pct loser across all U.S. exchanges
** Co enters into agreement with several institutional and
other accredited investors for purchase of 7,876,784 shares for
$3.19 each urn:newsml:reuters.com:*:nPnQbb6Fa
** Offering at a discount of 4.8% to stock's last close
** Expects gross proceeds of about $25.1 mln
** Intends to use part of net proceeds for mainland CBD
extraction operations
** Stock down 45.4% in the last 12 months
(Reporting by Trisha Roy in Bengaluru)
((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))