Cadiz (CDZI) Announces Proposed Offering of 2M ADS

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Go back to Cadiz (CDZI) Announces Proposed Offering of 2M ADS

Cadiz (CDZI) Prices 2M Share Offering at $25/ADS

June 30, 2021 8:02 AM EDT

Cadiz Inc. ("Cadiz", the "Company" or "we") (NASDAQ: CDZI) today announced the pricing of its underwritten registered public offering of 2,000,000 depositary shares at an initial public offering price of $25.00 per depositary share, raising gross proceeds of $50 million before deducting underwriting discounts and other estimated offering expenses. The offering is expected to close on or about July 2, 2021, subject to customary closing conditions.

Each depositary share represents a 1/1000th fractional interest in a share of the Company's 8.875% Series A Cumulative Perpetual Preferred Stock (the "Series A Preferred Stock"). The Company's depositary shares are... More