Summary by Moomoo AI
Camber Energy, Inc., a Nevada corporation listed on the NYSE American under the trading symbol CEI, has entered into a material definitive agreement with an investor holding shares of its Series C redeemable convertible preferred stock. The agreement, dated February 15, 2024, includes amendments to the certificate of designations (COD) for the Series C Preferred Stock. These amendments, effective as of February 21, 2024, establish a floor price for conversions, confirm the company's right to early redemption of Series C Preferred Stock subject to full repayment of outstanding promissory notes, and state that no additional conversion shares will be owed once the notes are paid and the preferred stock is redeemed. The investor has also agreed to revert the beneficial ownership limitation from...Show More