Camber Energy Inc (CEI) has released an update.
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On February 15, 2024, a company revised its agreement with a key investor concerning the Series C Preferred Stock, which resulted in amendments to the stock’s conversion entitlements and a commitment to allocate at least half of any future securities offering proceeds to repaying the investor’s promissory notes. Additionally, the investor withdrew its request to raise its ownership limit, reinstating the previous cap of 4.99%. This strategic move aims to reshape the financial and ownership structure of the company, potentially influencing its stock performance and investor relations.
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