Comstock Inc. (NYSE: LODE) has announced the pricing of its underwritten public offering of 13,333,334 shares at $2.25 per share, aiming to raise approximately $30 million before expenses. This strategic move is designed to fully finance the commercialization of its first industry-scale solar panel recycling facility, which is expected to process more than 3 million panels each year. Additionally, the funds will support further site selection, cover development costs, and repay existing debt, marking a significant step forward in the company's commitment to sustainable energy solutions.
Corrado De Gasperis, CEO of Comstock Inc., highlighted the offering's role in eliminating all outstanding debt and bolstering the company's cash position to accelerate growth in its recycling business. The initiative underscores Comstock's dedication to innovating and commercializing technologies that facilitate the transition to clean energy systems. By extracting and converting under-utilized natural resources into reusable electrification metals from end-of-life photovoltaics, Comstock is addressing a critical need in the renewable energy sector.
The public offering, led by Titan Partners Group, is anticipated to close on August 14, 2025, contingent upon meeting customary closing conditions. Underwriters have been granted a 30-day option to purchase up to an additional 2 million shares, further emphasizing the confidence in Comstock's vision and operational strategy.
This development is not just a milestone for Comstock Inc. but also a significant advancement for the green economy. The expansion of solar panel recycling capabilities is crucial for mitigating environmental impact and promoting the circular economy within the renewable energy sector. For more details on Comstock's initiatives, visit https://www.comstock.inc.
