Arcadia Biosciences to merge with oil and gas partnership Roosevelt Resources in all-stock deal

Arcadia Biosciences, Inc.

Signed Securities Exchange Agreement on Dec 5, 2024 for all-stock business combination with Roosevelt Resources, a Texas oil & gas partnership.
Transaction requires approval of Arcadia stockholders and Roosevelt partners; closing subject to customary conditions.
Arcadia to file Form S-4 registration statement with proxy/prospectus for stockholder vote on the proposed combination.
Roosevelt Resources is a private oil and gas partnership; combined company will trade under Arcadia's Nasdaq ticker RKDA.
Live webcast held Dec 11, 2024 to discuss deal; investor presentation furnished as Exhibit 99.1.

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