Comstock plunges after upsized $30 million stock sale

Comstock

13/08/2025 11:58

** Clean energy firm Comstock's LODE.A shares slide 18.2% to $2.47 premarket

** LODE late Tuesday announced pricing of upsized $30 million stock offering

** Virginia City-based LODE sold 13.3 million shares at $2.25 apiece, a 25.5% discount to stock's last close

** Proceeds will be for commercializing its facility for a metals segment and other purposes, including debt repayment

** Titan Partners Group was the sole bookrunner for the offering

** LODE had ~35.5 million outstanding shares as of August 12, according to offering prospectus

** One of two brokerages rates the stock "strong buy" and one "hold"; median PT $12 - data compiled by LSEG

** As of last close, LODE shares down 62.3% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))