Comstock Resources Says Majority Shareholder, Jerry Jones, Has Agreed To Make Additional $100.45M Equity Investment Through Two Entities He Controls
Portfolio Pulse from Benzinga Newsdesk
Comstock Resources announced that its majority shareholder, Jerry Jones, will invest an additional $100.45M through two entities he controls. This investment will be for 12.50 million shares at $8.036 each, based on the average closing prices up to March 20, 2024. Post-investment, Jones's ownership will increase to approximately 67% from 65%.
March 20, 2024 | 9:49 pm
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Jerry Jones's additional $100.45M investment in Comstock Resources for 12.50 million shares will increase his ownership to 67% from 65%.
The significant investment by Jerry Jones, a majority shareholder, directly impacts Comstock Resources by increasing his ownership stake, which could signal strong insider confidence in the company's future prospects. This is likely to be viewed positively by the market, potentially leading to a short-term uptick in CRK's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100