secwatch.observer — SEC 8-K summary
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Issuer:     Comstock Inc. (LODE)
CIK:        0001120970
Form:       8-K
Filed at:   2022-12-19T23:59:59+00:00
Accession:  0001120970-22-000093
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Comstock closes $3.15M convertible note, expects >$30M from asset sales in Q1 2023
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- Issued $3.15M face value 8% convertible note due March 2024, net proceeds $3M after 5% OID.
- Up to $2M of note redeemable at 110% after 30 days; conversion price initially $0.50 then formula-based.
- Company expects >$30M from sale of non-mining properties and non-strategic investments in Q1 2023.
- Note includes anti-dilution adjustments and 15% penalty if not redeemed/converted by maturity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1120970/000112097022000093/0001120970-22-000093-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1120970/000112097022000093/lode-20221216.htm
  HTML page:      https://secwatch.observer/filing/0001120970-22-000093

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer