Cadiz Inc (CDZI) has shared an announcement.
Cadiz Inc. and its subsidiaries have amended their credit and security agreements, allowing for an extension of maturity dates and the introduction of new secured convertible loans worth $20 million from Heerema Lender, an affiliate of Heerema International Group Services S.A. These new loans are prioritized over existing ones and will be used to support the development of Cadiz Inc.’s water supply projects and other corporate expenses. Heerema now holds a significant portion of Cadiz’s common stock and has been granted warrants to acquire more, intertwining their financial fates and strategic interests for the foreseeable future.
For an in-depth examination of CDZI stock, go to TipRanks’ Stock Analysis page.
