other_material
confidence high
sentiment positive
materiality 0.85
Comstock prices $30M upsized offering at $2.25/share; nets ~$27.6M
Comstock Inc.
- Closed offering of 13,333,334 shares at $2.25/share, gross proceeds $30M, net proceeds ~$27.6M.
- Proceeds to eliminate all outstanding debt and fund first industry-scale Comstock Metals solar panel recycling facility.
- Underwriter granted 30-day option for up to 2M additional shares; warrants for 7% of shares at $2.58/share.
- Post-offering expected cash on hand ~$45M; CEO says positions company to fully fund commercialization.
- Lock-up agreements for 75 days apply to Company, directors, and officers.
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