SEC Comment Letter for Arcadia Biosciences, Inc. (RKDA) (CIK 0001469443) (RKDA) — Apr 10, 2015
Arcadia Biosciences, Inc. (RKDA) (CIK 0001469443)
Date: April 10, 2015 · CIK: 0001469443 · Accession: 0000000000-15-020629
AI Filing Summary & Sentiment
Reasoning
Letter
April 10, 2015 Eric J. Rey President and Chief Executive Officer Arcadia Biosci ences, Inc. 202 Coust eau Place, Suite 200 Davis, CA 95618
Re: Arcadia Biosci ences, Inc. Amendment No. 1 to Registration Statement on Form S-1 Filed April 6, 2015 File No. 333 -202124
Dear Mr. Rey:
We have reviewed your amended registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments.
Liquidity and Capita l Resources, page 52 1. We note that in this amendment you have deleted the sentence “We believe that our existing cash and cash equivalents will be sufficient to meet our anticipated cash requirements for at least the next 12 months.” Please disclose whethe r you believe that your existing cash and cash equivalents will be sufficient to meet your anticipated cash requirements for at least the next 12 months. Provide risk factor discussion as appropriate.
2. We note your disclosure on page F -17 that “As of Dece mber 31, 2014, the debt balance was $13.5 million with a maturity date of January 15, 2015. The maturity date was extended to April 15, 2015 and an additional $1.0 million was funded by VUSA, also due April 15, 2015.” Please tell us the status of this deb t and the anticipated effect on your
Eric J. Rey Arcadia Biosciences, Inc. April 10, 2015 Page 2
company at the April 15, 2015 maturity date. Provide risk factor discussion as appropriate.
You m ay contact Stephen Kim at (202) 551-3291 or Doug Jones at (202) 551-3309 if you have questions r egarding comments on the financial statements and related matte rs. Please contact Julie Griffith at (202) 551-3267 or me at (202) 551-3611 with a ny other questions.
Sincerely,
/s/ A.N. Parker
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April 10, 2015 Eric J. Rey President and Chief Executive Officer Arcadia Biosci ences, Inc. 202 Coust eau Place, Suite 200 Davis, CA 95618 Re: Arcadia Biosci ences, Inc. Amendment No. 1 to Registration Statement on Form S-1 Filed April 6, 2015 File No. 333 -202124 Dear Mr. Rey: We have reviewed your amended registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Liquidity and Capita l Resources, page 52 1. We note that in this amendment you have deleted the sentence “We believe that our existing cash and cash equivalents will be sufficient to meet our anticipated cash requirements for at least the next 12 months.” Please disclose whethe r you believe that your existing cash and cash equivalents will be sufficient to meet your anticipated cash requirements for at least the next 12 months. Provide risk factor discussion as appropriate. 2. We note your disclosure on page F -17 that “As of Dece mber 31, 2014, the debt balance was $13.5 million with a maturity date of January 15, 2015. The maturity date was extended to April 15, 2015 and an additional $1.0 million was funded by VUSA, also due April 15, 2015.” Please tell us the status of this deb t and the anticipated effect on your Eric J. Rey Arcadia Biosciences, Inc. April 10, 2015 Page 2 company at the April 15, 2015 maturity date. Provide risk factor discussion as appropriate. You m ay contact Stephen Kim at (202) 551-3291 or Doug Jones at (202) 551-3309 if you have questions r egarding comments on the financial statements and related matte rs. Please contact Julie Griffith at (202) 551-3267 or me at (202) 551-3611 with a ny other questions. Sincerely, /s/ A.N. Parker Anne Nguyen Parker Assistant Di rector Cc: Karen Dempsey Orrick, Herrington & Sutclif fe LLP