Comstock Inc. Prices Public Offering of 18.18 Million Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
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Source: Newsfilter
- Funding Size: Comstock Inc. announced a public offering of 18,181,819 shares at approximately $50 per share, expecting gross proceeds of about $50 million, which will enhance the company's financial strength in the solar panel recycling market.
- Over-Allotment Option: The company has granted the underwriter a 30-day option to purchase an additional 2,727,272 shares, further enhancing market liquidity and investor confidence.
- Use of Proceeds: The proceeds will fund capital expenditures for Comstock Metals LLC, including the development of a second industry-scale facility and improvements in refining processes, aimed at accelerating growth in the metals market.
- Market Outlook: The CEO stated that demand in the solar panel recycling market is exceeding expectations, and this funding is expected to accelerate execution and scale the platform, further solidifying its market position in critical metal recovery.
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About LODE
Comstock Inc. commercializes technologies, systems and supply chains that enable, support and sustain clean energy systems by extracting and converting under-utilized natural resources into reusable metals, like silver, aluminum, gold, and other critical minerals, primarily from end-of-life photovoltaics. The Company's segments include Bioleum, Metals, Mining, Strategic Investments and Corporate. Its Bioleum Segment represents its lignocellulosic biomass into biointermediates for refining into renewable fuels. The Company's Metals Segment represents its recycling of electrification products. Its Mining Segment includes its gold and silver mining assets and related real estate. The Company's Mining Segment owns, controls, or retains royalty interest in 12 square miles of properties of patented mining claims, unpatented mining claims and surface parcels in northern Nevada. Its Strategic Investments Segment includes its investments in Green Li-ion and Sierra Springs Opportunity Fund Inc.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Comstock Inc. to Host Webinar on Financial Developments
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- Disclosure Policy: The company will continue to utilize its investor relations website and social media platforms (including X.com, LinkedIn, and YouTube) to disclose material non-public information, ensuring compliance with securities laws and enhancing communication with investors.
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