Cadiz Inc. announces $23.4M registered direct offering of 7M shares at $3.34; Heerema participates

CADIZ INC

7,000,000 shares at $3.34 per share; gross proceeds ~$23.38 million.
Largest shareholder Heerema participated, maintaining ~34% ownership.
Offering expected to close on November 5, 2024.
Net proceeds to advance water supply, groundwater banking project, including pipeline construction expected in 2025.
B. Riley Securities acting as sole placement agent.

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