COMSTOCK RESOURCES INC 8-K

What Happened
Comstock Resources, Inc. announced on June 16, 2026 (Form 8‑K) that certain funds managed by Sixth Street invested $600 million to acquire a 27% non‑controlling common equity interest in Comstock’s midstream subsidiary, Pinnacle Gas Services LLC. Comstock retains a 73% controlling common equity interest and will continue to manage, operate and control Pinnacle under a management services agreement. Proceeds from the investment were used to fully extinguish and retire Pinnacle preferred equity securities (approximately $445 million plus accrued dividends), pay all outstanding indebtedness at Pinnacle, cover transaction costs and provide working capital. The company filed a press release as Exhibit 99.1.

Key Details

• Sixth Street invested $600 million for a 27% non‑controlling common equity stake in Pinnacle.
• Comstock retains 73% common equity and remains manager/operator under a management services agreement.
• Proceeds used to retire Pinnacle preferred equity (~$445M plus accrued dividends), repay all Pinnacle indebtedness, pay transaction costs and supply working capital.
• Form 8‑K filed June 16, 2026; press release included as Exhibit 99.1.

Why It Matters
This transaction brings $600M of outside capital into Comstock’s midstream business while keeping Comstock as the controlling owner and operator. The capital was applied to eliminate preferred equity obligations and outstanding debt at Pinnacle, which should simplify Pinnacle’s capital structure and reduce cash obligations tied to those securities. For investors, the deal signals balance‑sheet repair at the midstream subsidiary and a strategic partnership with a large institutional investor, while preserving Comstock’s operational control of Pinnacle.