Cadiz (CDZI) Prices 2M Share Offering at $25/ADS

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Go back to Cadiz (CDZI) Prices 2M Share Offering at $25/ADS

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Cadiz (CDZI) Announces Proposed Offering of 2M ADS

June 28, 2021 4:52 PM UTC

Cadiz Inc. (NASDAQ: CDZI) today announced it has commenced an underwritten registered public offering of 2,000,000 depositary shares, each representing a 1/1000th fractional interest in a share of the Company's Series A Cumulative Perpetual Preferred Stock, with a liquidation preference of $25.00 per depositary share, to raise anticipated gross proceeds of $50.0 million before deducting transaction expenses, subject to market and certain other conditions. The Company expects to grant the underwriters a 30-day option to purchase additional depositary shares in... More