Last $11.89 USD
Change Today +0.11 / 0.93%
Volume 47.3K
CDZI On Other Exchanges
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NASDAQ GM
As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

cadiz inc (CDZI) Key Developments

Cadiz Inc. Announces Board Changes

On June 24, 2014, Mr. Bryant R. Riley resigned from the Board of Directors of Cadiz Inc. Mr. Riley has advised the company that due to B. Riley and company's recently closed merger with Great American Group Inc. and his role of Chairman and CEO of this public company, he does not have sufficient time to devote to company affairs as a director. Mr. Riley has further advised the company that he will remain available to assist the company on an informal basis from time to time.

Cadiz Inc., Annual General Meeting, Jun 10, 2014

Cadiz Inc., Annual General Meeting, Jun 10, 2014., at 11:00 Pacific Standard Time. Location: 10880 Wilshire Boulevard. Agenda: To consider the election of nine members of the Board of Directors, each to serve until the next annual meeting of stockholders or until their respective successors shall have been elected and qualified; to consider the ratification of the selection by the Audit Committee of Board of Directors of PricewaterhouseCoopers LLP as the company's independent certified public accountants for fiscal year 2014; to consider the approval of the company's 2014 Equity Incentive Plan; to consider the approval of a non-binding advisory resolution regarding the compensation of named executive officers; and to consider the transaction of such other business as may properly come before the meeting and any adjournments thereof.

Cadiz Inc. Presents at 15th Annual B. Riley & Co. Investor Conference, May-21-2014 10:00 AM

Cadiz Inc. Presents at 15th Annual B. Riley & Co. Investor Conference, May-21-2014 10:00 AM. Venue: Loews Santa Monica Beach Hotel, 1700 Ocean Avenue, Santa Monica, CA 90401, United States.

Cadiz Inc. Enters into an Agreement with its Lender MSD Credit Opportunity Master Fund, L.P. for $10 Million in New Working Capital

Cadiz Inc. announce that it has entered into an agreement with its new lender, MSD Credit Opportunity Master Fund, L.P., to increase the Company's existing $30 million senior secured mortgage loan by $10 million to fund additional working capital. MSD Credit previously acquired the majority interest of the $30 million portion of the debt in a private transaction. The new $10 million, together with existing cash resources, places the Company in a strong position to complete the defense of existing permits for the Cadiz Valley Water Conservation, Recovery and Storage Project and move toward project construction. The new $10 million tranche accrues interest at 8% and requires no principal or interest payments prior to maturity at June 30, 2017. The new $10 million and the original $30 million (‘Senior Secured Debt’) are both secured by the underlying assets of the Company, including all landholdings and infrastructure. The Credit Agreement also now provides that in the case of certain asset sales unrelated to the Water Project, the company would retain for working capital purposes up to 50% of the first $10 million of sales, with the remainder requiring mandatory prepayment of the Senior Secured Debt. In addition, as part of this transaction, the company issued 700,000 shares of Cadiz Inc. common stock to MSD Credit, subject to certain restrictions on resale.

Cadiz Inc., Annual General Meeting, Nov 14, 2013

Cadiz Inc., Annual General Meeting, Nov 14, 2013., at 11:00 Pacific Standard Time. Location: law offices of Theodora Oringher PC. Agenda: To consider the election of nine members of the Board, each to serve until the next AGM or until their respective successors shall have been elected and qualified; to consider the ratification of the selection by the Audit Committee of Board of Directors of PricewaterhouseCoopers LLP as the company's independent certified public accountants for fiscal year 2013; to consider the approval of the Cadiz Inc. 2013 Equity Incentive Plan; to consider the approval, for purposes of complying with Nasdaq Listing Rule 5635(b), of the issuance of the company's common stock upon conversion of outstanding Convertible Notes in excess of 19.99% of the total number of shares of the company's common stock outstanding as of the date the Convertible Notes were issued; to consider the approval of a non-binding advisory resolution regarding the compensation of named executive officers; and to consider transaction of such other business as may properly come before the meeting and any adjournments thereof.

 

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