Arcadia Biosciences, Inc.

Arcadia develops high-value products and drives innovation in the consumer goods industry. Since acquiring the assets of Zola in May 2021, Arcadia has provided consumers with Zola coconut water products for rehydration, resetting, and reenergizing. Previously, Arcadia developed products, primarily in wheat, which it commercialized through the sale of food products, trait licensing, and royalty agreements. On May 14, 2024, Arcadia sold its non-GMO Resistant Starch ("RS") durum wheat trait to Corteva Agriscience for total cash consideration of $4.0 million. On May 16, 2024, Arcadia sold the GoodWheat™ brand to Above Food for net consideration of $3.7 million. The assets sold consisted primarily of grain and finished goods inventories, formulations, and trademarks. On December 4, 2024, Arcadia, Roosevelt Resources LP, and Elliott Roosevelt, Jr. and David A. Roosevelt, as representatives of the limited partners of Roosevelt, entered into a Securities Exchange Agreement for the combination of the two companies in an all-stock transaction. Arcadia agreed to issue shares of its common stock to the limited partners and the sole member of the general partner of Roosevelt in exchange for all of the limited partnership and other equity interests of Roosevelt.