Cadiz Inc. Secures $20 Million for Mojave Groundwater Project Cadiz Inc. has finalized a $20 million registered direct stock offering, selling 5.72 million shares at $3.50 each. The funds will support the Mojave Groundwater Bank project, including pipeline construction starting in 2025. Despite this, Cadiz shares dropped 9% post-announcement, reflecting investor concerns over share dilution and project risks.123