---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-101825"
form_type: "8-K"
ticker: "CDZI"
cik: "0000727273"
company_name: "CADIZ INC"
filed_at: "2024-11-25T23:59:59+00:00"
generated_at: "2026-05-29T19:19:36.739149+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-24-101825
- form_type: 8-K
- ticker: CDZI
- cik: 0000727273
- company_name: CADIZ INC
- filed_at: 2024-11-25T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/727273/000121390024101825/0001213900-24-101825-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/727273/000121390024101825/ea0222416-8k_cadiz.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-101825
- JSON: https://secwatch.observer/filing/0001213900-24-101825.json
- Plain text: https://secwatch.observer/filing/0001213900-24-101825.txt

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