Cadiz Announces $23 Million Direct Stock Offering

Cadiz ( (CDZI) ) has shared an announcement.

Cadiz Inc., a California water solutions company, announced a $23 million registered direct offering of 7 million shares at $3.34 each, with the proceeds aimed at advancing its water supply and groundwater banking project. Heerema International Group Services SA, the company’s largest shareholder, participated, maintaining a 34% stake. The funding will support infrastructure development, business expansion, and general corporate purposes, with B. Riley Securities acting as the sole placement agent.

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