Comstock tumbles on $50 mln stock offering

Comstock

29/01/2026 12:29

** Clean energy firm Comstock Inc's LODE.A shares down 15% at $3, over two-month low, after overnight $50 mln follow-on priced

** LODE shares on course for 4th straight session of declines, if losses hold

** Virginia City, Nevada-based firm late Weds announced ~18.2 mln shares for gross proceeds of $50 mln

** Offering price equates to $2.75, which is 22.1% discount to stock's last sale

** LODE intends to use net offering proceeds to fund capex for its metals business, any remainder for general corporate purposes

** Co has ~51.4 mln shares outstanding

** Titan Partners sole bookrunner for offering

** Through Weds close, shares down 6% to begin 2026 after 53% fall last year

** Two analysts covering the stock rate it "hold" with PTs of $4 and $6.75, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))