Comstock Resources Inc.

The debt offering includes toggle notes due 2020, 7.75% convertible secured PIK notes due 2019 and 9.5% convertible secured PIK notes due 2020.

In connection with, and as a condition to, the completion of each of the tender offers and the related consent solicitations, the company intends to issue 10 million shares of common stock at a price of $7.50 per share in a privately negotiated transaction, sell certain assets in a privately negotiated transaction for an aggregate purchase price of approximately $125 million, enter into a new $300 million revolving bank credit facility, and issue approximately $600 million in aggregate principal amount of new senior unsecured notes. The tender offers are subject to the satisfaction or waiver by the company of the closing of each of the foregoing transactions.