secwatch.observer — SEC 8-K summary
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Issuer:     Comstock Inc. (LODE)
CIK:        0001120970
Form:       8-K
Filed at:   2024-09-19T23:59:59+00:00
Accession:  0001437749-24-029516
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Comstock Inc. enters into $5.3 million convertible note agreement with investor
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- Initial tranche of $3.5 million funded on September 19, 2024, with 6% original issue discount.
- Convertible note carries 6% interest, prepayable at 120% of principal, and convertible at 200% of closing price initially.
- Company issued restricted shares equal to 2% and registered shares equal to 3% of principal amount as additional consideration.
- Investor prohibited from short selling while note is outstanding; company restricted from variable rate transactions.
- Press release also notes SBCC term sheet for up to $325 million funding and updates on fuels and metals commercialization.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1120970/000143774924029516/0001437749-24-029516-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1120970/000143774924029516/lode20240917_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-029516

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