Comstock Inc. Announces Proposed Public Offering of Common Stock
Comstock (NYSE:LODE) has announced a proposed underwritten public offering of its common stock and pre-funded warrants. The company plans to grant the underwriter a 30-day option to purchase up to 15% additional shares to cover over-allotments.
The net proceeds will be used for capital expenditures related to commercializing Comstock Metals' first industry-scale facility, development expenses, general corporate purposes, and debt repayment. Titan Partners Group is serving as the sole bookrunner for the offering, which will be made through an effective shelf registration statement on Form S-3.
Comstock (NYSE:LODE) ha annunciato un'offerta pubblica sottoscritta proposta di azioni ordinarie e warrant pre-finanziati. La società intende concedere all'offerente una opzione di 30 giorni per acquistare fino al 15% di azioni aggiuntive per coprire eventuali sovrallocazioni.
I proventi netti saranno utilizzati per spese in conto capitale relative alla commercializzazione del primo impianto su scala industriale di Comstock Metals, per spese di sviluppo, per scopi aziendali generali e per il rimborso del debito. Titan Partners Group agirà come unico bookrunner dell'offerta, che sarà effettuata tramite una dichiarazione di registrazione shelf efficace sul modulo Form S-3.
Comstock (NYSE:LODE) ha anunciado una propuesta de oferta pública suscrita de sus acciones ordinarias y de warrants prefinanciados. La compañía planea otorgar al suscriptor una opción de 30 días para comprar hasta un 15% de acciones adicionales para cubrir las sobreasignaciones.
Los ingresos netos se destinarán a gastos de capital relacionados con la comercialización de la primera instalación a escala industrial de Comstock Metals, a gastos de desarrollo, a fines corporativos generales y al pago de deudas. Titan Partners Group actúa como único bookrunner de la oferta, que se realizará a través de una declaración de registro "shelf" vigente en el Formulario S-3.
Comstock (NYSE:LODE)� 보통주와 선지� 워런트에 대� 인수� 공모� 제안했다� 발표했습니다. 회사� 초과배정(오버얼로트먼�)� 보완하기 위해 인수인에� 최대 15% 추가 주식� 매수� � 있는 30� 옵션� 부여할 계획입니�.
순수익은 Comstock Metals� � 번째 산업 규모 시설 상업화와 관련된 자본� 지�, 개발�, 일반 기업 목적 � 부� 상환� 사용� 예정입니�. Titan Partners Group� � 공모� 단독 북러너로 참여하며, � 공모� Form S-3� 따른 유효� 셸프 등록 서류� 통해 이루어집니다.
Comstock (NYSE:LODE) a annoncé une offre publique souscrite proposée de ses actions ordinaires et de bons de souscription préfinancés. La société prévoit d'accorder au souscripteur une option de 30 jours lui permettant d'acheter jusqu'à 15% d'actions supplémentaires afin de couvrir les surallocations.
Le produit net sera utilisé pour des dépenses d'investissement liées à la commercialisation de la première installation à l'échelle industrielle de Comstock Metals, pour des frais de développement, des besoins généraux de l'entreprise et le remboursement de dettes. Titan Partners Group agit en tant que seul chef de file (bookrunner) de l'offre, qui sera réalisée via une déclaration d'enregistrement shelf efficace sur le formulaire S-3.
Comstock (NYSE:LODE) hat ein geplantes, unterlegtes öffentliches Angebot seiner Stammaktien und vorausfinanzierten Warrants angekündigt. Das Unternehmen beabsichtigt, dem Underwriter eine 30-tägige Option einzuräumen, bis zu 15% zusätzliche Aktien zu kaufen, um Überzuteilungen abzudecken.
Die Nettoerlöse werden für Investitionsausgaben im Zusammenhang mit der Kommerzialisierung der ersten Anlage von Comstock Metals im Industriemaßstab, für Entwicklungskosten, allgemeine Unternehmenszwecke und die Rückzahlung von Schulden verwendet. Titan Partners Group fungiert als alleiniger Bookrunner für das Angebot, das über eine wirksame Shelf-Registrierungserklärung auf Formular S-3 erfolgt.
- Proceeds will fund commercialization of first industry-scale Comstock Metals facility
- Funds will help reduce existing debt burden
- Additional capital for development and corporate purposes
- Potential dilution for existing shareholders through new share issuance
- Offering size and terms not yet determined, creating uncertainty
- Market conditions may affect completion of the offering
Insights
Comstock's stock offering will dilute shareholders but provides capital for facility commercialization and debt reduction, potentially enhancing long-term value despite near-term dilution.
Comstock's announced public offering of common stock (and potential pre-funded warrants) represents a significant capital raising initiative that will have mixed implications for investors. The company is tapping the equity markets to fund what appears to be a strategic pivot toward commercializing its Comstock Metals facility.
The offering includes typical features such as a 30-day over-allotment option for underwriters (up to 15% additional shares), suggesting the company wants flexibility to capitalize on strong demand if it materializes. The use of pre-funded warrants alongside common stock is a mechanism that helps certain institutional investors participate while navigating ownership restrictions.
Critically, the stated use of proceeds reveals Comstock's priorities: capital expenditures for commercializing its first industry-scale Comstock Metals facility, development expenses, and debt reduction. This three-pronged approach suggests management is balancing growth initiatives with strengthening the balance sheet.
The debt reduction component is particularly noteworthy as it indicates the company is taking steps to improve its financial health. However, this equity offering will inevitably dilute existing shareholders, which typically puts downward pressure on share price in the near term.
The offering's success remains uncertain, as the company explicitly acknowledges market conditions could affect timing, size, and terms. With Titan Partners Group serving as sole bookrunner (rather than a syndicate of underwriters), this suggests a relatively targeted offering size rather than a massive capital raise.
This capital infusion, while dilutive, may provide Comstock the financial runway needed to reach commercialization milestones that could ultimately deliver greater shareholder value than would be possible without this funding.
VIRGINIA CITY, Nev., Aug. 12, 2025 (GLOBE NEWSWIRE) -- Comstock Inc. (NYSE: LODE) (“Comstock� and the “Company�), today announced that it has commenced an underwritten public offering for the sale of its common stock (or pre-funded warrants in lieu thereof). In connection with the offering, Comstock expects to grant the underwriter a 30-day option to purchase additional common stock in an amount up to
Titan Partners Group, a division of American Capital Partners, is acting as the sole bookrunner for the offering.
This offering is being made pursuant to an effective shelf registration statement on Form S-3 (No. 333-285744) (including a base prospectus) previously filed with the U.S. Securities and Exchange Commission (the “SEC�) on March 12, 2025, and declared effective on March 24, 2025. The offering is being made only by means of a preliminary prospectus supplement and a final prospectus supplement and the accompanying base prospectus that form a part of the registration statement. Before investing, prospective investors should read the preliminary prospectus supplement, the accompanying base prospectus and the documents incorporated by reference therein for more complete information about the Company and the offering. These documents, including the preliminary prospectus supplement relating to the offering, are available for free on the SEC’s website at . Copies of the final prospectus supplement, when available, and the accompanying base prospectus relating to the offering may be accessed for free on the SEC’s website at or obtained by contacting Titan Partners Group LLC, a division of American Capital Partners, LLC, 4 World Trade Center, 29th Floor, New York, NY 10007, by phone at (929) 833-1246or by email at .
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Comstock Inc.
Comstock Inc. (NYSE: LODE) innovates and commercializes technologies that enable, support and sustain clean energy systems across entire industries by efficiently, effectively, and expediently extracting and converting under-utilized natural resources into reusable electrification metals, like silver, aluminum, copper, and other critical minerals from end-of-life photovoltaics. To learn more, please visit .
Comstock Social Media Policy
Comstock Inc. has used, and intends to continue using, its link and main website at in addition to its , and accounts, as means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD.
Contacts
For investor inquiries:
Judd B. Merrill, Chief Financial Officer
Tel (775) 413-6222
For media inquiries:
Zach Spencer, Director of External Relations
Tel (775) 847-7573
Forward-Looking Statements
This press release and any related calls or discussions may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. The words “believe,� “expect,� “anticipate,� “estimate,� “project,� “plan,� “should,� “intend,� “may,� “will,� “would,� “potential� and similar expressions identify forward-looking statements but are not the exclusive means of doing so. Forward-looking statements include statements about matters such as: future market conditions; future explorations or acquisitions; divestitures, spin-offs or similar distribution transactions, future changes in our research, development and exploration activities; future financial, natural, and social gains; future prices and sales of, and demand for, our products and services; land entitlements and uses; permits; production capacity and operations; operating and overhead costs; future capital expenditures and their impact on us; operational and management changes (including changes in the Board of Directors); changes in business strategies, planning and tactics; future employment and contributions of personnel, including consultants; future land and asset sales; investments, acquisitions, divestitures, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, operational, tax, financial and restructuring initiatives, including the nature, timing and accounting for restructuring charges, derivative assets and liabilities and the impact thereof; contingencies; litigation, administrative or arbitration proceedings; environmental compliance and changes in the regulatory environment; offerings, limitations on sales or offering of equity or debt securities, including asset sales and associated costs; business opportunities, growth rates, future working capital, needs, revenues, variable costs, throughput rates, operating expenses, debt levels, cash flows, margins, taxes and earnings. These statements are based on assumptions and assessments made by our management in light of their experience and their perception of historical and current trends, current conditions, possible future developments and other factors they believe to be appropriate. Forward-looking statements are not guarantees, representations or warranties and are subject to risks and uncertainties, many of which are unforeseeable and beyond our control and could cause actual results, developments, and business decisions to differ materially from those contemplated by such forward-looking statements. Some of those risks and uncertainties include the risk factors set forth in our filings with the SEC and the following: adverse effects of climate changes or natural disasters; adverse effects of global or regional pandemic disease spread or other crises; global economic and capital market uncertainties; the speculative nature of gold or mineral exploration, and lithium, nickel and cobalt recycling, including risks of diminishing quantities or grades of qualified resources; operational or technical difficulties in connection with exploration, metal recycling, processing or mining activities; costs, hazards and uncertainties associated with precious and other metal based activities, including environmentally friendly and economically enhancing clean mining and processing technologies, precious metal exploration, resource development, economic feasibility assessment and cash generating mineral production; costs, hazards and uncertainties associated with metal recycling, processing or mining activities; contests over our title to properties; potential dilution to our stockholders from our stock issuances, recapitalization and balance sheet restructuring activities; potential inability to comply with applicable government regulations or law; adoption of or changes in legislation or regulations adversely affecting our businesses; permitting constraints or delays; challenges to, or potential inability to, achieve the benefits of business opportunities that may be presented to, or pursued by, us, including those involving battery technology and efficacy, quantum computing and generative artificial intelligence supported advanced materials development, development of cellulosic technology in bio-fuels and related material production; commercialization of cellulosic technology in bio-fuels and generative artificial intelligence development services; ability to successfully identify, finance, complete and integrate acquisitions, spin-offs or similar distribution transactions, joint ventures, strategic alliances, business combinations, asset sales, and investments that we may be party to in the future; changes in the United States or other monetary or fiscal policies or regulations; interruptions in our production capabilities due to capital constraints; equipment failures; fluctuation of prices for gold or certain other commodities (such as silver, zinc, lithium, nickel, cobalt, cyanide, water, diesel, gasoline and alternative fuels and electricity); changes in generally accepted accounting principles; adverse effects of war, mass shooting, terrorism and geopolitical events; potential inability to implement our business strategies; potential inability to grow revenues; potential inability to attract and retain key personnel; interruptions in delivery of critical supplies, equipment and raw materials due to credit or other limitations imposed by vendors; assertion of claims, lawsuits and proceedings against us; potential inability to satisfy debt and lease obligations; potential inability to maintain an effective system of internal controls over financial reporting; potential inability or failure to timely file periodic reports with the Securities and Exchange Commission; potential inability to list our securities on any securities exchange or market or maintain the listing of our securities; and work stoppages or other labor difficulties. Occurrence of such events or circumstances could have a material adverse effect on our business, financial condition, results of operations or cash flows, or the market price of our securities. All subsequent written and oral forward-looking statements by or attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors. Except as may be required by securities or other law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Neither this press release nor any related calls or discussions constitutes an offer to sell, the solicitation of an offer to buy or a recommendation with respect to any securities of the Company, the fund, or any other issuer.
