secwatch.observer — SEC 8-K summary
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Issuer:     CADIZ INC (CDZI)
CIK:        0000727273
Form:       8-K
Filed at:   2023-05-25T23:59:59+00:00
Accession:  0001437749-23-015797
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cadiz reaches non-binding key terms with AVEK for water wheeling via Northern Pipeline
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- AVEK board approved key terms for cooperation with Cadiz on wheeling water from the Cadiz Water Project via the 220-mile Northern Pipeline.
- Existing contractors include Santa Margarita Water District (up to 5,000 AFY plus 10,000 AFY option) and Salton Sea Authority (5,000 AFY).
- Plans to form a Joint Powers Authority to fund pipeline conversion; participating agencies would lease 25,000 AFY at ~$850/AFY (take-or-pay) for 40 years.
- Discussions with three additional entities for water sales; non-binding term sheet with AVEK is subject to CEQA review and no obligation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/727273/000143774923015797/0001437749-23-015797-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/727273/000143774923015797/cdzi20230525_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-015797

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