---
title: "Comstock sells 27% stake in Pinnacle to Sixth Street for $600M, values Pinnacle at $2.2B"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289939198.md"
description: "Comstock Resources sold a 27% non-controlling stake in Pinnacle to Sixth Street for $600 million, implying a $2.2 billion enterprise value. Proceeds were used to retire preferred equity and pay down debt, strengthening the balance sheet. Comstock retains its 73% controlling interest and operational control. The transaction is expected to reduce fixed charges by approximately $40 million annually and deleverage the business."
datetime: "2026-06-16T15:03:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289939198.md)
  - [en](https://longbridge.com/en/news/289939198.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289939198.md)
generator: "portal-rs"
---

# Comstock sells 27% stake in Pinnacle to Sixth Street for $600M, values Pinnacle at $2.2B

**Comstock sold a 27% non‑controlling stake in Pinnacle to Sixth Street for $600 million, using proceeds to retire preferred equity, pay debt and strengthen its balance sheet.**

**Key Highlights:**

-   Sixth Street invested $600 million to acquire a 27% non‑controlling common equity interest in Pinnacle.
-   Transaction implies a $2.2 billion enterprise value for Pinnacle and values Comstock's 73% stake at about $1.6 billion.
-   Proceeds fully extinguished Pinnacle preferred equity ($445M plus accrued dividends), paid outstanding indebtedness, transaction costs and working capital.
-   Comstock retains management, operational control and a controlling 73% interest; Sixth Street ownership can decline to 19.5% if return hurdles met.
-   Deal is expected to materially reduce Pinnacle's fixed charges by about $40 million per year and deleverage the business.

Original SEC Filing: COMSTOCK RESOURCES INC \[ CRK \] - 8-K - Jun. 16, 2026

**Disclaimer**

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**