Arcadia Biosciences Stock Are On The Rise Today: What's Going On?

Shares of Arcadia Biosciences, Inc. (NASDAQ:RKDA) are trading higher Thursday following the company’s announcement of an all-stock merger with Roosevelt Resources LP. Here’s what you need to know.

What To Know: Under the terms of the agreement, Roosevelt will acquire a 90% equity stake in the combined entity. The transaction is expected to close in the first quarter of 2025, pending customary regulatory and shareholder approvals.

The merger represents a significant shift in Arcadia's business focus. Arcadia, which has historically concentrated on agricultural innovation and wellness products such as Zola coconut water, has been undergoing a strategic review since mid-2023. The company has streamlined operations, reduced expenses and divested assets, including its GoodWheat brand.

According to T.J. Schaefer, CEO of Arcadia, the decision to merge with Roosevelt was the ...

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