Past year: ▼ 27%(12.32 – 26.86 USD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Mar 2024capital raising announcement▲ GoodMajor
Controlling shareholders Arkoma and Williston Drilling (the Jones family) bought another 12.5 million Comstock shares directly from the company for about $100.5 million -- continued insider buying that reinforced their controlling stake.
14 May 2018capital raising announcement● NeutralMajor
This amendment re-files the May 9, 2018 deal with Jerry Jones's Arkoma Drilling and Williston Drilling, adding the full Contribution Agreement as an exhibit. Under it Comstock would acquire North Dakota oil and gas properties, valued by the company at $620.0 million with no associated debt, for up to 88,571,429 new shares, leaving the partnerships with about 84% of the stock. Closing needs shareholder approval, antitrust clearance and new bank and bond financing acceptable to the partnerships, with an October 31, 2018 outside date and a termination fee of up to $12.4 million in certain cases.
10 May 2018capital raising announcement▲ GoodMajor
Comstock agreed to acquire Bakken Shale (North Dakota) assets valued at $620 million from Arkoma Drilling and Williston Drilling in exchange for up to 88.6 million new shares -- the deal that would close three months later and hand the Jones family roughly 84% control of the company.
2 Apr 2018capital raising announcement▲ GoodMajor
Comstock agreed to sell 10 million shares to Jerry Jones-controlled Arkoma Drilling for $7.50/share and formed a strategic drilling venture giving Arkoma the right to fund Haynesville/Eagle Ford wells for a working interest -- the Jones family's first toehold in Comstock, four months before the much larger transaction that would hand them control.
24 June 2016capital raising announcement▼ Bad
Comstock exchanged another $3.0 million of its 9% 2020 notes for 1.5 million shares, continuing the same debt-for-equity restructuring pattern through mid-2016.
4 May 2016capital raising announcement▼ BadMajor
Alongside its Q1 2016 earnings, Comstock disclosed three more note-for-equity exchanges completed in April and early May -- $9.0 million of 2019 notes and $1.0 million of 9% 2020 notes swapped for a combined 1.9 million-plus shares -- continuing the restructuring.
6 Apr 2016capital raising announcement▼ Bad
Comstock completed another debt-for-equity exchange, swapping $14.3 million of the same 7% 2019 notes for 2.6 million shares.
3 Feb 2016capital raising announcement▼ BadMajor
Comstock began exchanging distressed debt for equity, swapping $40.0 million of 7% notes due 2019 for 4.6 million shares plus cash for accrued interest with holder Oasis Management -- the opening move of its 2016 debt restructuring during the gas-price downturn.
