Comstock Resources, Inc. Completes Registration of 9.75% Senior Notes Due 2026
April 16 2019 - 11:00AM
COMSTOCK RESOURCES, INC.
COMPLETESREGISTRATION OF 9.75%
SENIOR NOTES DUE 2026
FRISCO, TEXAS, April 16,
2019 — Comstock Resources, Inc. ("Comstock" or the
"Company") (NYSE: CRK) announced today that the registration
statement for its 9¾% Senior Notes due 2026 has been declared
effective. Accordingly, Comstock has commenced an offer to
exchange all of its outstanding 9¾% Senior Notes due 2026 (the
"Original Notes"), which are not registered under the Securities
Act of 1933, as amended (the "Securities Act"), for an equal
principal amount of newly issued 9¾% Senior Notes due 2026 that
have been registered under the Securities Act (the "Exchange
Notes").
The Exchange Notes are substantially identical
to the Original Notes, except that the Exchange Notes have been
registered under the Securities Act and will not bear any legend
restricting their transfer. The Exchange Notes will be issued only
upon cancellation of a like amount of currently outstanding
Original Notes. Comstock will not receive any proceeds from the
exchange offer.
Comstock is making this exchange offer to
satisfy its obligations under a registration rights agreement
entered into when it issued the Original Notes. Any Original Notes
not tendered for exchange in the exchange offer will remain
outstanding and continue to accrue interest, and Comstock will have
no further obligation to provide for the registration of such notes
under the Securities Act, except under certain limited
circumstances.
Pursuant to the terms of the exchange offer,
Comstock will accept for exchange any and all Original Notes
validly tendered and not withdrawn prior to 5:00 p.m., New York
City time, on May 14, 2019 (the "Expiration Date"), unless
extended. Tenders of Original Notes may be withdrawn at any time
prior to 5:00 p.m., New York City time, on the Expiration Date.
The terms of the exchange offer and other
information relating to Comstock are set forth in a prospectus
dated April 16, 2019. Copies of the prospectus and the related
letter of transmittal may be obtained from D.F. King & Co.,
Inc., which is serving as the exchange agent for the exchange
offer. D.F. King & Co., Inc. can be contacted at:
D.F. King & Co., Inc.48 Wall Street, 22nd
FloorNew York, New York 10005Banks and Brokers call: (212)
269-5550Call Toll Free: (800) 515-4479E-mail: crk@dfking.com
This press release does not constitute an offer
to purchase any securities or the solicitation of an offer to sell
any securities. The exchange offer is being made only pursuant to
the prospectus dated April 16, 2019, and the related letter of
transmittal and only to such persons and in such jurisdictions as
is permitted under applicable law.
This press release includes
"forward-looking statements," which are statements other than
statements of historical fact and are often characterized by the
use of words such as "believes," "expects," "estimates,"
"projects," "may," “will,” "intends,” “plans or "anticipates," or
by discussions of strategy, plans or intentions. All
forward-looking statements in this press release are made based on
management's current expectations and estimates, which involve
risks, uncertainties and other factors that could cause results to
differ materially from those expressed in forward-looking
statements. Among the important factors that could cause actual
results to differ materially from those results indicated in the
forward-looking statements include uncertainties relating to market
conditions for corporate debt securities generally and for the
securities of Comstock in particular.
Comstock Resources, Inc. is an
independent energy company based in Frisco, Texas engaged in oil
and gas acquisitions, exploration and development, and its assets
are primarily located in Texas, Louisiana and North Dakota.
The Company's stock is traded on the New York
Stock Exchange under the symbol CRK.
Comstock Resources
Gary H. Guyton
Director of Planning and Investor Relations
972-668-8834
Comstock Resources (NYSE:CRK)
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