secwatch.observer — SEC 8-K summary
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Issuer:     CADIZ INC (CDZI)
CIK:        0000727273
Form:       8-K
Filed at:   2021-07-07T23:59:59+00:00
Accession:  0001213900-21-035890
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cadiz enters $50M secured credit facility with B. Riley, issues warrants
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- $50.0M senior secured term loans at 7% annual interest, due July 2, 2024.
- Proceeds used to repay ~$77.5M Wells Fargo debt, pre-fund $10.1M preferred dividends, and expenses.
- Lenders receive two warrants to purchase 500K shares each at $17.38 and $21.72 per share.
- Concurrent depositary share offering of 2.3M units raised ~$54.0M net for Series A Preferred Stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/727273/000121390021035890/0001213900-21-035890-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/727273/000121390021035890/ea143812-8k_cadiz.htm
  HTML page:      https://secwatch.observer/filing/0001213900-21-035890

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