Cadiz inc. announces offering of depositary shares and series a cumulative perpetual preferred stock

Los angeles, june 28, 2021 /prnewswire/ -- cadiz inc. ("cadiz", the "company" or "we") (nasdaq: cdzi) today announced it has commenced an underwritten registered public offering of 2,000,000 depositary shares, each representing a 1/1000th fractional interest in a share of the company's series a cumulative perpetual preferred stock, with a liquidation preference of $25.00 per depositary share, to raise anticipated gross proceeds of $50.0 million before deducting transaction expenses, subject to market and certain other conditions.  the company expects to grant the underwriters a 30-day option to purchase additional depositary shares in connection with the offering.
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