Every material Form 8-K CADIZ INC has filed with the SEC since July 27, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Cadiz Inc. agreed to sell 5,000,000 common shares at $4.20 per share to institutional investors in a registered direct offering, for an aggregate purchase price of about $21 million. The company expects net proceeds of about $20 million, which it plans to use for general corporate purposes and development of the Mojave Groundwater Bank Project, and its directors and officers agreed to a 90-day lock-up.
5,000,000 shares offered at $4.20 per share, for an aggregate purchase price of about $21 million
Expected net proceeds of about $20 million after placement agent fees and expenses
Offering expected to close on or about October 30, 2026, subject to customary closing conditions
Directors and officers agreed to a 90-day lock-up; Roth Capital Partners, LLC is the exclusive placement agent
Cadiz's subsidiary Fenner Gap Mutual Water Company signed two construction manager at risk agreements on July 27, 2026, with guaranteed maximum prices totaling about $273.8 million for the Northern Pipeline. The company estimates total construction capital expenditures to place the pipeline into service at about $403.3 million, so the agreements cover most of the estimated cost and set a defined budget for the Mojave Groundwater Bank financing.
Lyles Agreement: guaranteed maximum price of about $218.9 million for pump-station facilities, with 15% project contingency.
Bubalo Agreement: guaranteed maximum price of about $54.9 million for pipeline replacement, with 10% project contingency.
Estimated total construction capital budget is about $403.3 million, including $129.5 million for owner-procured equipment and other items.
Construction starts after notices to proceed and financing and permitting conditions are met; the agreements assume a September 2026 notice to proceed.
Cadiz said Chief Financial Officer Stanley Speer will retire effective September 1, 2026, and Jacinto J. Hernandez, currently Executive Vice President of Finance, will become CFO on that date. Speer will serve as an advisor through December 31, 2026, and his separation terms include accelerated vesting of restricted stock units and a new grant tied to the Northern Pipeline project financing.
Stanley E. Speer retires as CFO effective September 1, 2026, and advises the company through December 31, 2026 at $10,000 per month.
Jacinto J. Hernandez, age 47, has an annual base salary of $400,000 and a cash bonus target of 100% of salary.
Hernandez's inducement awards total 800,000 restricted stock units and 800,000 performance stock units, subject to Compensation Committee approval.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every CADIZ INC filing is on SEC EDGAR ↗. 8-K briefs of other companies →