secwatch.observer — SEC 8-K summary
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Issuer:     Comstock Inc. (LODE)
CIK:        0001120970
Form:       8-K
Filed at:   2023-12-27T23:59:59+00:00
Accession:  0001120970-23-000097
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Comstock enters $5M convertible note financing with Kips Bay Select LP, 8% interest, 15-month maturity
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- Principal amount $5,263,157 purchased at $5,000,000 (5% OID); 8% annual interest; matures March 27, 2025.
- Convertible into common stock at lower of 175% of 20-day VWAP or $1.00; after 60 days, 90% of lowest 10-day VWAP.
- Commitment shares equal to 4.75% of principal (3% restricted + 1.75% registered) issued at no cost based on VWAP.
- Up to $3M redeemable after 30 days at 110% of principal plus accrued interest.
- Investor covenant not to take short positions while note outstanding.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1120970/000112097023000097/0001120970-23-000097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1120970/000112097023000097/lode-20231227.htm
  HTML page:      https://secwatch.observer/filing/0001120970-23-000097

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