{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-24-020294","form_type":"8-K","ticker":"CDZI","cik":"0000727273","company_name":"CADIZ INC","filed_at":"2024-03-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.772989+00:00","generated_at":"2026-06-05T03:13:10.127396+00:00","sec_items":["1.01","2.03","3.02","7.01","9.01"],"event_type":"debt","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Cadiz closes $57M credit agreement; receives $20M new loan from Heerema, extends maturities to 2027","bullets":["Heerema lender provided $20M new secured convertible loan at 7% PIK interest, convertible at $5.30/share.","All debt maturities extended to June 30, 2027; existing ~$16M convertible loans become unsecured and subordinated.","Heerema received warrant to purchase 1M shares at $5.00/share, expiring June 30, 2027.","Consent fee of $479,845 paid via 166,036 shares of common stock valued at $2.89/share.","Proceeds fund water supply project development; Northern Pipeline construction expected 2025, water delivery by 2026."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-24-020294","json":"https://secwatch.observer/filing/0001213900-24-020294.json","markdown":"https://secwatch.observer/filing/0001213900-24-020294.md","text":"https://secwatch.observer/filing/0001213900-24-020294.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/727273/000121390024020294/0001213900-24-020294-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/727273/000121390024020294/ea0201148-8k_cadizinc.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T03:13:10.127396+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"04c0cc4b51f79d694d8b12e498bc63237d317e82","claim":"CADIZ INC amended credit facility.","evidence_excerpt":"The Amended Credit Agreement extends the maturity date for the Existing Convertible Loans and Existing Non-Convertible Loans to June 30, 2027.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/727273/000121390024020294/0001213900-24-020294-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"04c0cc4b51f79d694d8b12e498bc63237d317e82","claim":"CADIZ INC amended credit facility.","evidence_excerpt":"the aggregate principal amount of the secured non-convertible term loans acquired by the Heerema Lender pursuant to the Assignment has been increased from $20,000,0000 to $21,200,000, and the applicable repayment fee in respect thereof has been eliminated","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/727273/000121390024020294/0001213900-24-020294-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"8b91073f26564a3accb37ad6a3ed5765dfe666bc","claim":"CADIZ INC incurred term loan of $20,000,000 with HHC $ Fund 2012 (the Heerema Lender) at 7% per annum maturing June 30, 2027.","evidence_excerpt":"The Amended Credit Agreement provides for a new tranche of senior secured convertible term loans from the Heerema Lender in an aggregate principal amount of $20,000,000 (the “New Secured Convertible Loans”), having a maturity date of June 30, 2027, which was fully funded to the Company on March 6, 2024.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/727273/000121390024020294/0001213900-24-020294-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"term loan"},{"label":"Principal","value":"$20,000,000"},{"label":"Counterparty","value":"HHC $ Fund 2012 (the Heerema Lender)"},{"label":"Rate","value":"7% per annum"},{"label":"Maturity","value":"June 30, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"0ac576997ea22a0e13496f59e86244cc117399d7","claim":"CADIZ INC entered into Third Amendment to Credit Agreement and First Amendment to Security Agreement with HHC $ Fund 2012 (the \"Heerema Lender\"), an affiliate of Heerema International Group Services S.A. valued at aggregate principal amount of $20,000,000 (effective 2024-03-06).","evidence_excerpt":"On March 6, 2024, Cadiz Inc. (the “Company,” “we,” “our,” and “us”) and our wholly-owned subsidiaries, Cadiz Real Estate LLC, ATEC Water Systems, LLC, and Octagon Partners LLC (collectively, the “Borrowers”), entered into a Third Amendment to Credit Agreement and First Amendment to Security Agreement (the “Third Amendment”) with HHC $ Fund 2012 (the “Heerema Lender”), an affiliate of Heerema International Group Services S.A. (“Heerema”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/727273/000121390024020294/0001213900-24-020294-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"HHC $ Fund 2012 (the \"Heerema Lender\"), an affiliate of Heerema International Group Services S.A."},{"label":"Value","value":"aggregate principal amount of $20,000,000"},{"label":"Effective","value":"2024-03-06"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}