secwatch.observer — SEC 8-K summary
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Issuer:     CADIZ INC (CDZI)
CIK:        0000727273
Form:       8-K
Filed at:   2022-03-21T23:59:59+00:00
Accession:  0001213900-22-013754
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/727273/000121390022013754/0001213900-22-013754-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/727273/000121390022013754/ea157151-8k_cadizinc.htm
  HTML page:      https://secwatch.observer/filing/0001213900-22-013754

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