International Group Heerema - Mar 6, 2024 Form 4 Insider Report for CADIZ INC (CDZI)

Role
10%+ Owner
Signature
/s/ Jacobus Muller, Director
Stock symbol
CDZI
Transactions as of
Mar 6, 2024
Transactions value $
$20,000,000
Form type
4
Date filed
3/6/2024, 09:11 AM
Previous filing
Jul 6, 2023
Next filing
Nov 6, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding CDZI Common Stock 20.7M Mar 6, 2024 HHC $ Fund 2012
holding CDZI Common Stock 2.91M Mar 6, 2024 HHC Fund 2012

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CDZI Convertible Loan Purchase $20M $20M Mar 6, 2024 Common Stock 3.77M $5.30 HHC $ Fund 2012 F1
transaction CDZI Warrants to Purchase Common Stock Purchase +1M 1M Mar 6, 2024 Common Stock 1M $5.00 HHC $ Fund 2012 F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to an amendment to Credit Agreement, dated as of March 6, 2024, HHC $ Fund 2012, an affiliate of the Reporting Person, invested a sum of $20 million in the form of a convertible loan, the terms of which are set forth in the Issuer's Form 8-K, filed with the SEC on March 6, 2024. If the convertible loan is held to maturity, an aggregate of 5,119,067 shares of common stock are issuable upon conversion, calculated based on 7% PIK interest through maturity, payable quarterly in arrears, and assuming no event of default.
F2 In connection with the convertible loan, Cadiz issued 1,000,000 warrants to purchase common stock to an affiliate of the Reporting Person.