Cadiz Commences ~$21M Offering Of 5M Common Shares At $4.20 Per Share

Cadiz Inc. (NASDAQ: CDZI, CDZIP) ("Cadiz" or the "Company") today announced that it has entered into a placement agent agreement for the purchase and sale of 5 million shares of the Company's common stock at a price of $4.20 per share in a registered direct offering (the "Offering"), resulting in a gross proceeds of $21.0 million. The Offering was anchored by a fundamental institutional investor with deep expertise in water, royalties, hard assets, and inflation protection—and supported by other new and existing shareholders. The Offering is expected to result in net proceeds to the Company of approximately $20.0 million, after deducting placement agent fees and other offering expenses payable by the Company.