Comstock on May 17, Announced Private Placement of 1.25M Restricted Shares at $0.40/Share to the Chairman & CEO
Comstock on May 17, Announced Private Placement of 1.25M Restricted Shares at $0.40/Share to the Chairman & CEO
On May 17, 2024, Comstock Inc. ("Comstock") announced the private placement of 1,250,000 restricted shares at a price of $0.40 per share, or $500,000 in net proceeds, to the Executive Chairman & CEO of Comstock (the "Chairman").
2024年5月17日,康斯托克公司(“康斯托克”)宣佈向康斯托克執行董事長兼首席執行官(“董事長”)私募125萬股限制性股票,價格爲每股0.40美元,淨收益50萬美元。
The Chairman purchased such restricted shares with proceeds from an independent, personal promissory note issued by the Chairman to Alvin Fund LLC, who is separately a creditor and shareholder of Comstock. The promissory note has a principal amount of $1,100,000, accrues interest at 6% per annum for one year and 8% per annum thereafter and matures three years from the date of issuance. The obligations under the promissory note are secured by a security interest in Sierra Springs Opportunity Fund, Inc. ("SSOF") shares owned by the Chairman. The Chairman also assigned 500,000 shares of SSOF owned by him, as partial consideration for the extension of credit.
董事長用董事長向Alvin Fund LLC發行的獨立個人期票的收益購買了此類限制性股票,Alvin Fund LLC分別是Comstock的債權人和股東。本票的本金爲1,100,000美元,一年的應計利息爲6%,此後爲每年8%,自發行之日起三年到期。期票下的債務由董事長擁有的塞拉斯普林斯機會基金有限公司(“SSOF”)股份的擔保權益擔保。董事長還轉讓了他擁有的50萬股SSOF股份,作爲信貸延期的部分對價。