Recent Updates — CDZI

Cadiz Inc. entered into a placement agent agreement to sell 5,000,000 shares of common stock at $4.20 per share in a registered direct offering, raising approximately $21 million in gross proceeds and about $20 million in net proceeds after fees. The transaction is expected to close on or about October 30, 2026, subject to customary conditions. Directors and officers have entered into 90-day lock-up agreements. Net proceeds will fund general corporate purposes, including overhead, working capital, and development of the Mojave Groundwater Bank Project. Cadiz Inc. is a water solutions company developing long-term water supply, storage, conveyance, and treatment projects in California's Mojave Desert.

On June 18, 2026, Cadiz Inc. filed a Certificate of Amendment of Certificate of Incorporation with the Secretary of State of Delaware to increase the number of authorized shares of common stock from 100,000,000 to 125,000,000. This amendment was approved by stockholders during the company's 2026 annual meeting. The company operates in the water infrastructure industry, focusing on the development and operation of water conveyance and storage systems.