 Today, Cadiz Inc. NASDAQ: CDZI Cadiz, the Company, a California business dedicated to sustainable water and agricultural projects, announced that it has entered into agreements with the holders of the Companys outstanding Convertible Notes due March 2020 Convertible Notes to exchange approximately 27 million of outstanding principal amount of the Convertible Notes into a new series of convertible preferred stock that is convertible into common stock no later than March 2025 and has no dividend or required redemption. All remaining Convertible Notes were converted into common stock prior to their March 5, 2020 maturity date in accordance with their terms and the resulting common stock has been issued and is already outstanding. Concurrent with the exchange agreements, the Company also entered into an option agreement with its senior lender, Apollo Special Situations Fund, L.P., that provides the Company the right to extend the maturity date of its senior mortgage debt Senior Debt at the Companys option from the current maturity date of May 2021 to May 2022. In addition, the Company has completed its previously disclosed At the Market Offering, which raised approx. 25 million for its development program and working capital. 