Comstock Resources Files 8-K on Material Definitive Agreement
Ticker: CRK · Form: 8-K · Filed: Apr 9, 2024 · CIK: 23194
Sentiment: neutral
Topics: material-definitive-agreement, financial-obligation, 8-K
Related Tickers: CRK
TL;DR
Comstock Resources (CRK) filed an 8-K today, looks like a big financial deal is going down.
AI Summary
On April 9, 2024, Comstock Resources, Inc. entered into a material definitive agreement related to its financial obligations. The company, incorporated in Nevada, filed this 8-K report to disclose this event. The filing also includes financial statements and exhibits.
Why It Matters
This filing indicates a significant financial event for Comstock Resources, Inc., potentially impacting its debt structure or operational financing.
Risk Assessment
Risk Level: medium — Material definitive agreements can involve significant financial commitments or changes in a company's structure, carrying inherent risks.
Key Numbers
- 001-03262 — SEC File Number (Identifies the company's filing history with the SEC.)
- 94-1667468 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- COMSTOCK RESOURCES, INC. (company) — Registrant
- April 09, 2024 (date) — Date of earliest event reported
- Nevada (jurisdiction) — State of Incorporation
- 5300 Town and Country Blvd. Suite 500 (address) — Principal Executive Offices
- Frisco, Texas (location) — Principal Executive Offices City and State
FAQ
What specific material definitive agreement did Comstock Resources, Inc. enter into?
The filing indicates the entry into a material definitive agreement and creation of a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the agreement are not provided in this excerpt.
What is the nature of the financial obligation mentioned?
The filing states the creation of a 'Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant,' but the exact nature and terms are not detailed in this section.
When was this agreement entered into?
The earliest event reported in this filing occurred on April 09, 2024.
Where is Comstock Resources, Inc. headquartered?
Comstock Resources, Inc.'s principal executive offices are located at 5300 Town and Country Blvd., Suite 500, Frisco, Texas, 75034.
What is the company's Standard Industrial Classification (SIC) code?
The company's SIC code is 1311, which corresponds to Crude Petroleum & Natural Gas.
Filing Stats: 973 words · 4 min read · ~3 pages · Grade level 12 · Accepted 2024-04-09 16:30:16
Key Financial Figures
- $0.50 — ch registered Common Stock, par value $0.50 (per share) CRK New York Stock Exch
- $400.0 million — Resources, Inc. (the "Company") issued $400.0 million aggregate principal amount of its 6.75%
Filing Documents
- crk-20240409.htm (8-K) — 46KB
- crk-ex4_1.htm (EX-4.1) — 982KB
- 0000950170-24-043015.txt ( ) — 1276KB
- crk-20240409.xsd (EX-101.SCH) — 24KB
- crk-20240409_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. On April 9, 2024, Comstock Resources, Inc. (the "Company") issued $400.0 million aggregate principal amount of its 6.75% senior notes due 2029 (the "Notes") in a private placement offering pursuant to an Indenture, dated as of April 9, 2024 (the "Indenture"), by and among the Company, certain subsidiaries of the Company named therein and Equiniti Trust Company, LLC, as trustee. The subsidiaries of the Company that are a party to the Indenture agreed to unconditionally guarantee the Company's obligations under the Indenture and Notes. The Notes will mature on March 1, 2029 and accrue interest at a rate of 6.75% per annum, payable semi-annually on March 1 and on September 1 of each year, commencing on September 1, 2024. The Notes are senior unsecured obligations of the Company and rank equally in right of payment with all of the Company's existing and future senior indebtedness and senior in right of payment to all of the Company's existing and future subordinated indebtedness. The Notes are effectively subordinated to any of the Company's existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness, including all borrowings under the Company's bank credit facility. The Notes are structurally subordinated to all liabilities of any of the Company's subsidiaries that do not issue guarantees of the Notes. The Company may on one or more occasions redeem the Notes, in whole or in part, upon not less than 15 or more than 60 days' notice, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption, if redeemed during the 12-month period beginning on March 1 of the years indicated below: Year Redemption Price 2024 103.375% 2025 102.250% 2026 101.125% 2027 and thereafter 100.000% Upon the occurrence of a Change of Control Triggering
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 4.1 Indenture, dated April 9, 2024, by and among the Company, each of the guarantor subsidiaries named therein, and Equiniti Trust Company, LLC for the 6.75% Senior Notes due 2029 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. COMSTOCK RESOURCES, INC. Date: April 9, 2024 By: /s/ Roland O. Burns Roland O. Burns President and Chief Financial Officer