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CM - Jerry Jones kicking in for Comstock’s $2.2B Covey buy - June 2019
Comstock Resources, which was refinanced and revived last year by transactions involving Dallas Cowboys owner Jerry Jones, agreed to buy Haynesville standout Covey Park Energy for $2.2 billion, in part using funds it will realize from equity sales to Jones. He will invest $475 million total cash in Comstock, buying 50 million new common shares at $6 each for $300 million and $175 million worth of new 10% perpetual convertible preferred stock. Combined with the more than 88 million common shares Comstock......
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