---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-036700"
form_type: "8-K"
ticker: "LODE"
cik: "0001120970"
company_name: "Comstock Inc."
filed_at: "2024-12-04T23:59:59+00:00"
generated_at: "2026-05-29T08:05:34.924156+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Comstock raises $2.5M via 6% convertible note with step-down conversion price and share penalty

## Summary
- Issued up to $2.66M principal 6% convertible note due Apr 4, 2026; initial $2.5M funded Dec 4, 2024.
- Second tranche of $500k due by Jan 1, 2025; both include 6% original-issue discount.
- Conversion: 200% of closing price for first 20 days, then 88% of lowest 6-day VWAP (80% in default).
- Prepayment allowed at 120% of principal plus accrued interest with 30-day notice.
- Issuer to deliver 5% of principal in commitment shares (2% restricted, 3% registered) based on 20-day VWAP.

## SEC filing metadata
- accession: 0001437749-24-036700
- form_type: 8-K
- ticker: LODE
- cik: 0001120970
- company_name: Comstock Inc.
- filed_at: 2024-12-04T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1120970/000143774924036700/0001437749-24-036700-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1120970/000143774924036700/lode20241202_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-036700
- JSON: https://secwatch.observer/filing/0001437749-24-036700.json
- Plain text: https://secwatch.observer/filing/0001437749-24-036700.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.