debt
confidence high
sentiment negative
materiality 0.50
Viking Global amends $1.2M FK convertible note; subsidiary VPS issues $300K note backed by CEO guaranty
CAMBER ENERGY, INC.
- Amendment No. 1 to the $1.2M FK Venture convertible note extends maturity from Sept. 30, 2026 to the earlier of April 1, 2027 or a senior-lender default unremedied for 7 days.
- Amendment sets FK Note conversion price at $0.15/share absent a senior default, or $0.02/share upon a Senior P. Note Default; both subject to proportional adjustment for stock splits.
- VPS issued a $300,000 promissory note to Raymond and Victoria Menna; no stated rate but fixed $30,000 interest payable at maturity; matures earlier of Dec. 31, 2026 or a VPS financing closing.
- CEO James A. Doris gave an absolute personal guaranty of VPS's obligations; defaults include nonpayment of principal uncured for 5 business days and bankruptcy, with holder acceleration rights.
- VPS may prepay the note at any time; Viking Global is not a party to the VPS Note, which has no conversion rights or warrants.