Cadiz Inc. has entered into an exclusive placement agent agreement with Roth Capital Partners, LLC, to facilitate a registered direct offering of 5,000,000 shares of its common stock at $4.20 per share, culminating in approximately $21 million in gross proceeds. The company anticipates receiving roughly $20 million in net proceeds after accounting for placement agent fees and related transaction costs. The offering is slated to close on or about October 30, 2026, subject to customary closing conditions.
The net proceeds from this financing will support general corporate purposes, including operational overhead and interest payments, as well as capital expenditures tied to the development and construction of the Mojave Groundwater Bank Project. Specific allocations include funding for northern and southern pipeline infrastructure, equipment and materials procurement, wellfield infrastructure on company-owned land, business expansion efforts, and other strategic initiatives.
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