LOS ANGELES , March 7, 2025 /PRNewswire/ -- Cadiz Inc. (NASDAQ: CDZI/CDZIP) (the "Company"), a California water solutions company, today announced that it has entered into a placement agent agreement for the purchase and sale of an aggregate of 5,715,000 shares of its common stock in a registered direct offering (the "Offering") at a price of $3.50 per share. The aggregate gross proceeds to the Company from the Offering are expected to be approximately $20 million, before deducting the placement agent's fees and other offering expenses payable by the Company.
LOS ANGELES , March 4, 2025 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI) (the "Company" or "Cadiz") announced today that the Company has entered into a Letter of Agreement ("LOA") with a lead investor to invest up to $175 million in the Mojave Groundwater Storage Company, LLC ("MGSC"), a new entity established by Cadiz for purposes of construction, ownership, and operation of Cadiz's groundwater banking project in the Mojave Desert (the "Mojave Groundwater Bank") and related projects. Under the terms of the LOA, the investor, a publicly traded company focused on investing in water infrastructure projects, will act as lead investor (the "Lead Investor") in the newly formed MGSC, and will invest up to $175 million in the MGSC.
The $800M groundwater bank will be the largest new water infrastructure project in the Southwest LOS ANGELES , Feb. 25, 2025 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI) (the "Company" or "Cadiz") announced today that it has entered into an agreement with Stantec Inc. (NYSE: STN), a global leader in sustainable design and engineering, to oversee development and construction of the Mojave Groundwater Bank project, the largest new water storage and supply project being developed in California's Mojave Desert. Once complete, the project will provide 2.5 million acre-feet of new water supply, 1 million acre-feet of underground storage capacity and a pipeline network spanning more than 350 miles between the Colorado River and California Aqueducts.
Chairman and CEO Susan Kennedy to Host Call on January 22 at 11:00am ET, Review 2024 Milestones and 2025 Objectives LOS ANGELES , Jan. 15, 2025 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI / CDZIP) ("Cadiz," the "Company"), a California water solutions company, announced today that it will host a quarterly Corporate Update Call for investors on Wednesday, January 22, 2025 at 11:00am ET. Susan Kennedy, Chairman and CEO of Cadiz, will deliver prepared remarks to review Cadiz's 2024 milestone achievements and outline the Company's objectives for 2025.
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LOS ANGELES , Dec. 24, 2024 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI / CDZIP) ("Cadiz," the "Company"), a California water solutions company, today announced that its Board of Directors has declared the following cash dividend on the Company's 8.875% Series A Cumulative Perpetual Preferred Stock (the "Series A Preferred Stock"). Holders of Series A Preferred Stock will receive a cash dividend equal to $560.00 per whole share.
$50 million investment in Mojave Groundwater Bank would be the largest investment in water infrastructure off tribal-lands by Native American Tribes in U.S. history LOS ANGELES and WINDSOR, Calif. , Nov. 25, 2024 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI) (the "Company" or "Cadiz") announced today that the Company and the Lytton Rancheria of California ("Lytton") have signed a Letter of Intent for Lytton to invest up to $50 million in the Company's groundwater banking project in the Mojave Desert ("Mojave Groundwater Bank").
Cadiz (CDZI) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.11. This compares to loss of $0.12 per share a year ago.
Steel from terminated Keystone XL Pipeline Project to be repurposed for water delivery as Company prepares for construction of groundwater banking project LOS ANGELES , Nov. 12, 2024 /PRNewswire/ -- Cadiz, Inc. (NASDAQ: CDZI) (the "Company" or "Cadiz") announced today that it has entered into an agreement to purchase 180-miles of steel pipe from the terminated Keystone XL Pipeline Project. The Company plans to use the steel pipe for the construction of a pipeline network connecting the Company's groundwater bank in the Mojave Desert to major water networks in the Southwestern U.S. The 180 miles of new steel pipe will be added to the Company's expansive portfolio of pipeline assets, including 220 miles of existing pipeline acquired by the Company from El Paso Natural Gas in 2021.
Cadiz (CDZI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.