Welcome to our dedicated page for Cadiz news (Ticker: CDZI), a resource for investors and traders seeking the latest updates and insights on Cadiz stock.
Cadiz, Inc. (NASDAQ: CDZI) is a California water solutions company active in water supply, storage, pipeline infrastructure and treatment, and its news flow reflects progress across these areas. Company announcements frequently cover milestones for the Mojave Groundwater Bank in the eastern Mojave Desert, including project financing arrangements, regulatory steps for converting existing pipelines to water conveyance and collaborations with public agencies and tribal partners.
Investors following CDZI news will see updates on agreements such as the unsecured term loan and investment framework with Lytton Rancheria of California, which provides the first tranche of capital for the Mojave Groundwater Bank, as well as memoranda of understanding with entities like EPCOR and the U.S. Bureau of Reclamation. These items highlight how Cadiz is positioning its groundwater banking and pipeline assets within regional water management strategies for Southern California and the Lower Colorado River Basin.
Cadiz news also covers developments at its ATEC Water Systems subsidiary, including deployment of specialized filtration systems to treat perchlorate contamination in the Rialto-Colton Groundwater Basin under a partnership with San Bernardino Valley Municipal Water District and Fontana Water Company. Additional releases describe clean energy and hydrogen-related memoranda of understanding at Cadiz Ranch, preferred stock dividend declarations, and participation in investor conferences and public television segments discussing climate change and water infrastructure.
This news page aggregates these updates in one place, allowing readers to track Cadiz’s project milestones, financing activities, water treatment projects and outreach to investors and stakeholders over time.
Cadiz Inc. (Nasdaq: CDZI/CDZIP) disclosed a new Schedule 13D filed by Heerema International Group Services S.A., which now owns approximately 35% of the company's common stock. Heerema IGS has stated its intention to remain a passive investor. Previously, its shares were held through Hoving & Partners. Cadiz's CEO expressed gratitude for Heerema's support, emphasizing the need for innovative water solutions in California amidst ongoing water shortages. The company is dedicated to enhancing water access through sustainable projects.
Cadiz Inc. (NASDAQ: CDZI) CEO Scott Slater addressed the California Department of Water Resources' unprecedented decision to allocate zero water to its contract districts for the upcoming year. This historic drought impacts 25 million people and 750,000 acres of farmland. Cadiz emphasizes the urgent need for enhanced water access and proposes the Cadiz Northern Pipeline as a potential solution to convey water to drought-affected communities. The company aims to support conservation initiatives and improve groundwater storage, offering possible water supply benefits to 200,000 residents.
Cadiz Inc. (NASDAQ: CDZI) released its 3rd quarter 2021 newsletter outlining significant issues affecting California's water supply amid ongoing drought conditions. The newsletter highlights the urgent need for water conservation as regional water agencies declare drought emergencies. CEO Scott Slater emphasized the company's investment in groundwater storage solutions, including the potential of the Northern Pipeline to convey up to 25,000 acre-feet of water, serving around 200,000 people. Cadiz is focusing on sustainable projects to address future climate challenges.
Cadiz Inc. (Nasdaq: CDZI/CDZIP) announced a cash dividend of $630.00 for each share of its 8.875% Series A Cumulative Perpetual Preferred Stock, and $0.63 per depositary share. The dividend is scheduled for payment on October 15, 2021, to shareholders of record by the close of business on October 5, 2021. Cadiz focuses on sustainable water and agricultural projects in California, managing significant water resources and farming operations.
Cadiz Inc. (NASDAQ: CDZI) addressed the worsening water crisis in California as the new water year begins on October 1, 2022. Following one of the driest years on record, existing water resources are critically low, with major reservoirs like Lake Mead at historical lows. The California State Water Resources Control Board has curtailed water diversions across major rivers, raising concerns about water availability. Despite passing a budget trailer bill allocating $1.2 billion for water projects, significant infrastructure issues remain unaddressed. Cadiz remains committed to providing sustainable water solutions through its groundwater basin and pipeline.
Cadiz Inc. (NASDAQ: CDZI) addressed recent stock volatility, emphasizing that no new material developments or announcements are affecting its operations. The company reaffirmed its positive outlook following its Q2 results released on August 13, 2021. Cadiz owns significant land and water resources in Southern California and aims to implement sustainable projects to address the region's water needs.
Cadiz Inc. (NASDAQ: CDZI) announced the closure of a $50 million senior secured credit facility, part of a larger $107.5 million financing package aimed at reducing debt and funding asset development. The new facility lowers debt from a previous 9.5% to 7%, extending the maturity to July 2024. Proceeds will also cover a senior secured term loan and provide working capital. The company has over $25 million in cash for operations and $10 million allocated for upcoming dividends on its Series A Preferred Stock. This supports Cadiz's mission to address California's water resource challenges.
Cadiz Inc. (NASDAQ: CDZI) announced the completion of its acquisition of the 220-mile Northern Pipeline for $19 million. This pipeline, which extends from California's Central Valley to Cadiz Ranch, is designed to convey up to 30,000 AFY of water, addressing California's growing water supply challenges. The acquisition aims to enhance water access for underserved communities and improve water transportation infrastructure. Cadiz's CEO highlighted the company's commitment to alleviating water access issues, particularly in disadvantaged areas of California.
Cadiz Inc. (NASDAQ: CDZI) announced a public offering of 2,000,000 depositary shares, priced at $25.00 each, raising gross proceeds of $50 million. The offering expects to close by July 2, 2021. Each depositary share corresponds to a fractional interest in the Company's 8.875% Series A Cumulative Perpetual Preferred Stock, which will trade under the symbol CDZIA. Proceeds will repay existing debts and fund dividends. The offering is underwritten by multiple financial institutions and follows a shelf registration statement approved by the SEC.
Cadiz Inc. (NASDAQ: CDZI) announced a public offering of 2,000,000 depositary shares, each representing a 1/1000th interest in its Series A Cumulative Perpetual Preferred Stock, aiming to raise $50 million in gross proceeds. The Company plans to allocate the net proceeds to repay outstanding debt, fund a segregated dividend account, and cover other corporate expenses. A new $50 million secured term loan is also expected to close alongside the offering. B. Riley Securities and others are acting as joint bookrunners for this offering.