Arcadia Biosciences to combine with Roosevelt Resources in all-stock reverse merger; Roosevelt owners to get ~90%

Arcadia Biosciences, Inc.

Arcadia to issue shares for all Roosevelt equity; current Arcadia shareholders will own ~10% of combined company.
Roosevelt's primary asset: 16,208-acre CCUS oil and gas project in Texas Permian Basin.
Combined company management: Elliott Roosevelt Jr. as CEO, Jimmy Hawkins as President, Jerrel Branson as CFO.
Name change to Roosevelt Resources, Inc.; closing expected Q1 2025, subject to shareholder and regulatory approvals.
Arcadia had conducted strategic review since July 2023; deal advised by Lake Street Capital and Roth Capital.

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