An announcement from Cadiz ( (CDZI) ) is now available.
On March 3, 2025, Cadiz Inc. entered into a Letter of Agreement with a lead investor to invest up to $175 million in the Mojave Groundwater Storage Company, LLC, a new entity created for the construction and operation of Cadiz’s groundwater banking project in the Mojave Desert. This agreement marks a significant milestone for Cadiz, as it expects to secure up to $401 million in equity capital from various investors, including Native American Tribes, to fund the project. The LOA outlines that Cadiz will contribute assets such as pipeline ownership and water storage rights to the new entity, while retaining certain rights and contracts. The agreement is not binding until definitive agreements are executed, and it is subject to shareholder approval and other conditions.
More about Cadiz
Cadiz Inc. is a California-based water solutions company focused on providing access to clean, reliable, and affordable water. The company offers a comprehensive suite of solutions including water supply, storage, pipeline, and treatment technologies, leveraging its 45,000 acres of land, 2.5 million acre-feet of water supply, and 220 miles of pipeline assets.
YTD Price Performance: -15.98%
Average Trading Volume: 576,859
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $320.3M
For detailed information about CDZI stock, go to TipRanks’ Stock Analysis page.