Item 1.01 Entry into a Material Definitive Agreement.
Effective February 3, 2020 Cadiz Inc. ("Cadiz" or the "Company") entered into a
First Amendment to its existing Purchase and Sale Agreement (the "Agreement")
dated December 31, 2018 with El Paso Natural Gas Company ("EPNG"). As amended,
the Agreement (i) extends the time period within which Cadiz must complete the
purchase of the pipeline segment contemplated by the Agreement from 30 to up to
180 days following the satisfaction by EPNG of certain conditions precedent,
with the actual time period depending upon the date upon which such conditions
are satisfied, and (ii) increases the balance of the purchase price payable at
closing from $18 million to $19 million.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
First Amendment to Purchase and Sale Agreement dated February 3, 2020
by and between El Paso Natural Gas Company, LLC, a Delaware limited
10.1* liability company and Cadiz Inc., a Delaware corporation
*filed herewith
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