Arcadia Biosciences prices IPO at $8 after cutting proposed valuation

Arcadia Biosciences, which is developing a portfolio of crop productivity traits for genetically modified seeds, raised $66 million by offering 8.2 million shares at $8. Before cutting its terms on Thursday, the company had planned to offer 7.2 million shares at $13-$15. Arcadia Biosciences plans to list on the NASDAQ under the symbol RKDA. Arcadia Biosciences initially filed confidentially on 11/12/2014. Credit Suisse, J.P. Morgan and Piper Jaffray acted as lead managers on the deal.