Cadiz Inc. raises $21 million in a registered direct offering to advance the Mojave Groundwater Bank development. This funding will help address the Southwest water crisis.
Amount Raised
$21 Million
Round Type
Post-IPO Equity
Los AngelesAgriculture and FarmingWaterWater PurificationDescription
Cadiz Inc. has announced a placement agent agreement for the sale of 5 million shares of its common stock at a price of $4.20 per share, raising $21 million. The offering is backed by institutional investors experienced in water and hard assets. The net proceeds will support the Mojave Groundwater Bank project, aimed at providing reliable water supply in the Southwest
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