Cadiz (CDZI) Announces 6.86M Share Private Placement at $1.75/sh
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Cadiz Announces New $12 Million Equity Investment from Registered Direct Offering of Common Stock
March 21, 2022 9:00 AM EDTHeerema International Group Services SA leading offering with $5 million investment
Offering Priced at-the-Market
LOS ANGELES, March 21, 2022 /PRNewswire/ -- Cadiz Inc. (Nasdaq: CDZI/CDZIP) ("Cadiz" or the "Company"), today announced that it has entered into a definitive securities purchase agreement for a registered direct offering ("Offering") of 6.86 million shares of common stock at a price of $1.75 per share for total proceeds of $12 million. The Offering is led by the Company's largest equity shareholder Heerema International Group Services SA ("Heerema IGS"), along with Company founder and Board member Keith Brackpool and affiliates of the Company's senior secured lender, B. Riley Securities.Â
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