---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-22-013754"
form_type: "8-K"
ticker: "CDZI"
cik: "0000727273"
company_name: "CADIZ INC"
filed_at: "2022-03-21T23:59:59+00:00"
generated_at: "2026-06-26T21:32:35.482727+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Cadiz raises $12M in registered direct offering led by Heerema; board observer right granted

## Summary
- 6.86M shares at $1.75 per share for total proceeds of $12M; offering priced at-the-market.
- Heerema IGS (largest shareholder) invests $5M; founder Keith Brackpool $2.5M; B. Riley affiliates $3.5M.
- Heerema receives right to appoint one board observer or nominate one director; special meeting rights for 20% holders.
- Proceeds to fund working capital and development of water supply/storage assets in California.
- Closing expected March 23, 2022; no underwriting discounts or commissions paid.

## SEC filing metadata
- accession: 0001213900-22-013754
- form_type: 8-K
- ticker: CDZI
- cik: 0000727273
- company_name: CADIZ INC
- filed_at: 2022-03-21T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/727273/000121390022013754/0001213900-22-013754-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/727273/000121390022013754/ea157151-8k_cadizinc.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-22-013754
- JSON: https://secwatch.observer/filing/0001213900-22-013754.json
- Plain text: https://secwatch.observer/filing/0001213900-22-013754.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.