CADIZ Inc | 8.875% Depositary Shares Series A Cumulative Perpetual Preferred Stock (CDZIP)
Prospectus excerpt: Cadiz Inc. is offering 2,000,000 depositary shares, each representing a 1/1000th fractional interest in a share of 8.875% Series A Cumulative Perpetual Preferred Stock, par value $0.01 per share (the “Series A Preferred Stock”), which we refer to in this prospectus as the depositary shares. The depositary shares are evidenced by depositary receipts. 2,000 shares of Series A Preferred Stock represented by the depositary shares will be deposited with Continental Stock Transfer & Trust Company, as depositary. As a holder of the depositary shares, you will be entitled to all proportional rights, preferences and privileges of the Series A Preferred Stock represented thereby, including dividend, voting, redemption and liquidation rights and preferences. You must exercise such rights through the depositary. The liquidation preference of each share of the Series A Preferred Stock is $25,000.00 (equivalent to $25.00 per depositary share).
CADIZ is a water solutions provider. Co. owns land with access to groundwater resources in three areas of Southern California's Mojave Desert: the Cadiz Valley, Danby Dry Lake, and the Piute Valley. Co.'s supply, storage and pipeline assets are in San Bernardino County that sits at the crossroads of major highway, rail, energy, and water infrastructure between California's primary water supply systems, the Colorado River Basin and the State Water Project. As a result, Co.'s Cadiz Water Conservation and Storage Project is positioned to assist public water agencies in storing and managing unpredictable water supplies and provide water supplies to underserved areas of California.
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