Brief: Cadiz Inc Announces $40 Mln Registered Direct Offering

Cadiz

31/01/2023 13:58

Jan 31 (Reuters) - Cadiz Inc  CDZI.O :
    * CADIZ INC. ANNOUNCES $40 MILLION REGISTERED DIRECT
OFFERING
BACKED BY LARGEST SHAREHOLDERS
    * CADIZ INC - PRICED A REGISTERED DIRECT OFFERING OF 10.5
MILLION
SHARES OF COMMON STOCK FOR TOTAL GROSS PROCEEDS OF $40.32
MILLION
    * CADIZ INC - INTENDS TO USE NET CASH PROCEEDS FROM OFFERING
TO,
FUND CAPITAL EXPENDITURES EXPECTED TO ACCELERATE DEVELOPMENT OF
COMPANY'S WATER SUPPLY
    * CADIZ - INTENDS TO USE NET CASH PROCEEDS FROM OFFERING TO
REPAY
$15 MILLION OF EXISTING $50 MILLION CREDIT FACILITY
    * CADIZ INC - OFFERING IS EXPECTED TO CLOSE WITH NET
PROCEEDS OF
APPROXIMATELY $38.5 MILLION TO COMPANY ON OR ABOUT FEBRUARY 2,
2023

Source text for Eikon:  ID:nPnb94gtta 
Further company coverage:  CDZI.O 
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