Camber Energy announces earlier effective date for 1-for-50 reverse split

Camber Energy announced an anticipated effective date of December 21 for its previously-announced 1-for-50 reverse stock split of the company’s issued and outstanding shares of common stock, accompanied by a corresponding decrease in the company’s authorized shares of common stock. Following effectiveness of the reverse stock split, which the company expects to occur as of open of the market on December 21, the number of authorized shares of common stock will be reduced from 1,000,000,000 to 20,000,000. As previously disclosed, as a result of the reverse stock split every 50 pre-split shares of common stock outstanding will automatically combine into one new share of common stock without any action on the part of the holders, and the number of outstanding common shares will be reduced from approximately 814.4M shares to approximately 16.3M shares. Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share on a per shareholder basis.