secwatch.observer — SEC 8-K summary
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Issuer:     Arcadia Biosciences, Inc. (RKDA)
CIK:        0001469443
Form:       8-K
Filed at:   2024-05-20T23:59:59+00:00
Accession:  0000950170-24-062449
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Arcadia sells GoodWheat business; receives $6M promissory note, pays $2M cash at close
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- Net consideration $4M: $6M promissory note (3-yr, prime rate) from Above Food; Arcadia paid $2M cash at closing.
- Principal due $2M on each anniversary; Arcadia can elect to settle $2M for Above Food stock at 90% of 20-day VWAP.
- Pro forma 2022 net loss improves from ($15.4M) to ($8.5M); 2023 net loss from ($14.0M) to ($6.1M).
- Transaction closed May 14, 2024; security agreement grants Arcadia lien on purchased assets (excl. inventory).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1469443/000095017024062449/0000950170-24-062449-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1469443/000095017024062449/rkda-20240514.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-062449

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer