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Cadiz raises $21M to advance Mojave Groundwater Bank, tackling Southwest water crisis

Company Fundamentals
29 Oct 2026, 15:17 WIB
PRNewsWire
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Bullish
Cadiz raises $21M to advance Mojave Groundwater Bank, tackling Southwest water crisis

Cadiz Inc. announced a $21 million registered direct offering by selling 5 million shares at $4.20 each, backed by institutional investors with expertise in water and hard assets. The funds will support the development and construction of the Mojave Groundwater Bank, the largest water supply and storage project in the Southwest, aimed at addressing regional water shortages. The project has broad regional support and partnerships, including with the Lytton Rancheria tribe, and is progressing through regulatory, commercial, and engineering milestones. Cadiz plans to use the proceeds for corporate needs and advancing key infrastructure like the Northern and Southern Pipeline projects, with the offering expected to close around October 30, 2026.

Cadiz Inc. raised $21 million in a registered direct offering. For readers following the Utilities sector, here is Pluang's market snapshot as of Oct 29, 2026 19:01 WIB: Of 40 priced Utilities-sector US stocks tradable on Pluang, 31 rose and 8 fell today. Southern Company (SO) was priced at USD 93.00 with a 1-day change of +1.62% and balanced Pluang order activity. National Grid Transco PLC (NGG) was at USD 83.53, up 1.59%, with a typical hold time of 2 days. Dominion Energy Inc (D) traded at USD 65.24, up 1.49%, with a typical hold time of 77 days.

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