Cadiz Inc. Files 8-K Current Report

TL;DR

CADIZ filed an 8-K, check for updates.

AI Summary

Cadiz Inc. filed an 8-K on November 25, 2024, reporting events as of November 21, 2024. The filing is a current report under the Securities Exchange Act of 1934, with no specific material events detailed in the provided text, but it includes financial statements and exhibits.

Why It Matters

This filing indicates Cadiz Inc. is providing updates to the SEC, which could contain material information for investors regarding the company's operations or financial status.

Risk Assessment

Risk Level: low — The provided text is a standard SEC filing notification and does not contain specific financial or operational details that would indicate high risk.

Key Players & Entities

• CADIZ INC (company) — Registrant
• November 21, 2024 (date) — Earliest event reported date
• November 25, 2024 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share CDZI The NASDAQ Global Ma
• $50 million — ospective investment by Lytton of up to $50 million in a new corporate entity, to be establ
• $401 million — ipated to raise total equity capital of $401 million toward the construction of the project
• $150 million — ) for a prospective investment of up to $150 million previously described in its current rep
• $200 million — potential investors in Newco for up to $200 million of the $401 million of equity capital t
• $800 million — ndwater Bank are presently estimated at $800 million. Cadiz and Newco investors are expected
• $51 m — ion, Newco will pay Cadiz approximately $51 million, among other considerations set f

Filing Documents

• ea0222416-8k_cadiz.htm (8-K) — 41KB
• ea022241601ex99-1_cadiz.htm (EX-99.1) — 12KB
• ea022241601ex99-2_cadiz.htm (EX-99.2) — 27KB
• ex99-1_001.jpg (GRAPHIC) — 19KB
• 0001213900-24-101825.txt ( ) — 336KB
• cdzi-20241121.xsd (EX-101.SCH) — 4KB
• cdzi-20241121_def.xml (EX-101.DEF) — 26KB
• cdzi-20241121_lab.xml (EX-101.LAB) — 36KB
• cdzi-20241121_pre.xml (EX-101.PRE) — 25KB
• ea0222416-8k_cadiz_htm.xml (XML) — 6KB

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure On November 25, 2024, Cadiz Inc. ("Cadiz" or the "Company") issued a press release regarding its entry into the LOI as described under Item 8.01 below, which is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information disclosed under this Item 7.01, including Exhibit 99.1 hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as expressly set forth in such filing.

01 Other Events

Item 8.01 Other Events. On November 21, 2024, Cadiz entered into a letter of intent (the "LOI") with Lytton Rancheria of California, a federally recognized Native American Tribe in California ("Lytton") that outlines a prospective investment by Lytton of up to $50 million in a new corporate entity, to be established by Cadiz, to support construction, joint ownership and operation of Cadiz's groundwater banking project in the Mojave Desert (the "Mojave Groundwater Bank"). The new corporate entity, which is anticipated to be a limited liability company ("Newco"), is anticipated to raise total equity capital of $401 million toward the construction of the project and for Newco to acquire certain assets including pipelines and a majority interest in groundwater banking operations. Cadiz entered into a similar Letter of Intent with a non-profit investment fund (the "Non-Profit Fund") for a prospective investment of up to $150 million previously described in its current report on Form 8-K filed on October 31, 2024 (the "Prior 8-K"). With a prospective investment of $50 million by Lytton and a prospective investment of $150 million by the Non-Profit Fund, Cadiz has entered LOIs with potential investors in Newco for up to $200 million of the $401 million of equity capital target amount. The Company is currently in diligence with other prospective investors, including other Native American Tribes ("Tribes"), for additional equity investments in the Newco. Under the terms of the LOI, Cadiz will be responsible for project development activities, with Lytton, the Non-Profit Fund and other qualified investors expected to provide up to an aggregate of $401 million of equity capital to Newco in order for Newco to acquire assets and fund the construction of facilities for the Mojave Groundwater Bank. Total construction costs for facilities related to the operation of the Mojave Groundwater Bank are presently estimated at $800 million. Cadiz and Newco investors are expected to coo

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits 99.1 Press Release issued on November 25, 2024 99.2 Letter of Intent, dated November 21, 2024, by and between Lytton Rancheria of California and Cadiz, Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CADIZ INC. By: /s/ Stanley E. Speer Stanley E. Speer Chief Financial Officer Date: November 25, 2024 3

View Full Filing

View this 8-K filing on SEC EDGAR