Cadiz signs LOI with Lytton Rancheria for $50M investment in Mojave Groundwater Bank

CADIZ INC

Lytton Rancheria to invest up to $50M in Newco for 51% stake in Mojave Groundwater Bank, largest tribal investment off tribal lands in U.S. history.
Total Newco equity target $401M; Cadiz also has LOI with non-profit fund for up to $150M, totaling $200M in LOIs.
Cadiz to transfer Northern Pipeline, Southern Pipeline ROW, and 51% storage rights to Newco for ~$51M, retaining 49% storage rights and all water supply revenue.
Newco investors prioritized to receive 98% of net revenues until 7.5% annual yield; Cadiz to be managing member.
Definitive agreements required; construction targeted for 2025 with initial water delivery as early as 2026.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.