Item 1.01 Entry into a Material Definitive Agreement.
Concurrently with the filing of the universal shelf registration statement
described in Item 8.01 of this Current Report on Form 8-K, on
Sales of our common stock through the Sales Agent, if any, will be made by any method that is deemed an "at the market offering" as defined in Rule 415 under the Securities Act of 1933, as amended. The Sales Agent will use commercially reasonable efforts to make such offerings consistent with its normal trading and sales practices. We will pay the Sales Agent an aggregate of up to 3.0% of the gross proceeds of the sales price per share of common stock sold through the Sales Agent under the Sales Agreement.
We are not obligated to make any sales of our common stock under the Sales Agreement and no assurance can be given that we will sell any shares under the Sales Agreement, or, if we do, as to the price or amount of shares that we will sell, or the dates on which any such sales will take place. The Sales Agreement will terminate upon the earlier of (i) the sale of all of our common stock subject to the Sales Agreement, or (ii) termination of the Sales Agreement as provided therein.
The foregoing description of the Sales Agreement is not complete and is
qualified in its entirety by reference to the full text of the Sales Agreement,
a copy of which is filed herewith as Exhibit 1.1 to this Current Report on Form
8-K and is incorporated herein by reference. In connection with the Sales
Agreement, the Company is filing the opinion and consent of its counsel,
All statements in this report that are not historical facts should be considered "Forward Looking Statements" within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Some of the forward-looking statements can be identified by the use of words such as "believe," "expect," "may," "will," "should," "seek," "approximately," "intend," "plan," "estimate," "project," "continue" or "anticipates" or similar expressions or words, or the negatives of those expressions or words. Except as otherwise required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances, or any other reason, after the date of this report.
Item 8.01 Other Events.
On
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. 1.1* At Market Issuance Sales Agreement, datedJuly 31, 2020 , by and betweenCadiz Inc. andB. Riley Securities, Inc. 5.1* Opinion ofGreenberg Traurig, LLP . 23.1* Consent ofGreenberg Traurig, LLP (included in Exhibit 5.1). * Filed herewith. 1
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