Cadiz (CDZI) Registration filing summary

Company overview and business model

• Operates as a water solutions provider with land, water, pipeline, and filtration technology assets in Southern California, serving public water systems, government agencies, and commercial clients.

• Holds 2.5 million acre-feet of water supply, 220 miles of pipeline, 1 million acre-feet of groundwater storage, and scalable water filtration technology.

• Owns 46,000 acres of land with significant groundwater resources in the Mojave Desert, with vested water rights.

• Acquired a 220-mile idle natural gas pipeline for conversion to water transport and a filtration systems company for contaminant removal.

Financial performance and metrics

• As of August 9, 2024: 67,896,161 shares of common stock outstanding, 329 shares of Series 1 Preferred Stock, 2,300 shares of Series A Preferred Stock, $16.3M unsecured and $20.1M secured convertible loans maturing June 30, 2027.

• Common stock closed at $3.01 per share on August 12, 2024, listed on Nasdaq under “CDZI.”

Use of proceeds and capital allocation

• Net proceeds will be used to expand and accelerate development of land, water supply, storage, conveyance, and filtration assets, including pipeline projects, wellfield infrastructure, business development, capital expenditures, working capital, debt refinancing, business expansion, and acquisitions.