Cadiz Secures $51 Million Lytton Rancheria Loan for Mojave Groundwater Bank
Cadiz Inc. has secured a $51 million loan from Lytton Rancheria to develop the Mojave Groundwater Bank project. The loan is unsecured and convertible into membership interests in Mojave Water Infrastructure Company, LLC. Initial proceeds of $15 million will cover project expenses, with further funding expected in 2026. Cadiz will issue 600,000 shares of common stock as a commitment fee and additional shares for each draw. This financing is part of a larger $450 million capital raise for the project, which will also seek private equity and government grants.
Cadiz Inc. has entered into a definitive agreement with Lytton Rancheria of California for up to $51 million in financing to support the construction and development of the Mojave Groundwater Bank project. Under the agreement, Cadiz can draw unsecured loan proceeds to fund project development and capital costs, with the loan convertible into membership interests in Mojave Water Infrastructure Company, LLC (MWI) on the same terms as other equity investors. The initial proceeds of approximately $15 million will reimburse project development expenses, with additional draws to fund equipment needed for facilities construction expected in 2026. As part of the deal, Cadiz will issue 600,000 shares of common stock at closing as a commitment fee, and 25,000 shares per $1 million funded on each draw. This transaction represents the first tranche in a broader $450 million equity capital raise for the project, with additional funding being pursued from private equity, municipal debt, and government grants. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cadiz Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: LA08667) on October 28, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT)
