UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): March 30, 2016
COMSTOCK RESOURCES, INC.
(Exact Name of Registrant as Specified in Charter)
|
STATE OF NEVADA
|
001-03262
|
94-1667468
|
|
(State or other
jurisdiction incorporation) |
(Commission File Number)
|
(I.R.S. Employer
Identification Number) |
5300 Town and Country Boulevard
Suite 500
Frisco, Texas 75034
(Address of principal executive offices)
(972) 668-8800
(Registrant's Telephone No.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
|
☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
☐
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
☐
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On March 30, 2016, Comstock Resources, Inc. ("Comstock" or "the Company"), announced that it had received notification on March 24, 2016 from the New York Stock Exchange ("NYSE") of being below the NYSE's continued listing standards, namely that the Company's average stock price is trading below $1.00 per share and its average market capitalization is less than $50 million, in each case for over a consecutive 30 day trading period, and its stockholders' equity is less than $50 million. The Company will submit a plan to the NYSE outlining steps it intends to take to cure the deficiency in the stock price and market capitalization. A copy of the Company's press release announcing its receipt of the notice from the NYSE and its planned response to the NYSE, is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The information contained in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
|
Exhibit 99.1
|
Press Release dated March 30, 2016.
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
COMSTOCK RESOURCES, INC.
|
||
|
Dated: March 30, 2016
|
By:
|
/s/ ROLAND O. BURNS
|
|
Roland O. Burns
|
||
|
President and Chief Financial Officer
|
Exhibit 99.1
5300 Town and Country Blvd., Suite 500Frisco, Texas 75034
Telephone: (972) 668-8834
Contact: Gary H. Guyton
Director of Planning and Investor Relations
Web Site: www.comstockresources.com
NEWS RELEASE
For Immediate Release
COMSTOCK RESOURCES, INC.
RECEIVES NOTICE FROM NYSE OF
FALLING BELOW CONTINUED LISTING STANDARDS
FRISCO, TEXAS, March 30, 2016 – Comstock Resources, Inc. ("Comstock" or the "Company") (NYSE: CRK) announced today that it received notification from the New York Stock Exchange ("NYSE") of being below the NYSE's continued listing standards. The Company is considered below criteria established by the NYSE as a result of the Company's average stock price trading below $1.00 per share and its average market capitalization being less than $50 million, in each case over a consecutive 30 trading-day period, and its last reported stockholders' equity was less than $50 million.
The Company will submit a plan to the NYSE to outline steps to be taken to cure the deficiency in its stock price and market capitalization. If the Company fails to cure its stock price deficiency within six months, or its market capitalization deficit within 18 months, it will be subject to suspension or delisting by the NYSE. The Company's stock will continue to trade on the NYSE pending acceptance by the NYSE of the Company's plan, in the event the NYSE does not accept the Company's plan, the Company will be subject to suspension by the NYSE and delisting procedures.
This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct.
Comstock Resources, Inc. is an independent energy company based in Frisco, Texas and is engaged in oil and gas acquisitions, exploration and development primarily in Texas and Louisiana. The Company's stock is traded on the New York Stock Exchange under the symbol CRK.