debt
confidence high
sentiment neutral
materiality 0.50
Camber Energy issues $1.2M convertible note to restructure Viking subsidiary debt
CAMBER ENERGY, INC.
- Issued $1.2M unsecured convertible promissory note to FK Venture LLC, replacing existing Viking Energy debt.
- Note bears 10% annual interest, matures September 30, 2026; default rate 18%.
- Conversion price fixed at $0.15 per share; up to 8M shares (approx. 3% of outstanding) issuable.
- Prepayment allowed but requires minimum 12 months' interest if within first year.
- Note issued in reliance on Section 4(a)(2) and Regulation D accredited investor exemption.