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Camber Energy, Viking Energy enter amendment to merger agreement
The Fly

Camber Energy, Viking Energy enter amendment to merger agreement

Camber Energy and Viking Energy Group announce that on April 18, 2023, they entered into an amendment to the Amended and Restated Agreement and Plan of Merger, dated as of February 15, 2021, regarding the full combination of the two entities. The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, Viking Merger Sub, Inc., a wholly owned subsidiary of Camber, will merge with and into Viking, with Viking surviving the Merger as a wholly owned subsidiary of Camber and Camber remaining the sole publicly-traded entity. If the Merger is consummated, Viking’s shareholders would receive one share of Camber’s common stock in exchange for each of their shares of Viking’s common stock , and would benefit from owning shares of a company listed on a national stock exchange platform with greater liquidity and an established trading history. If the Merger is completed, Camber would acquire full legal and accounting control of Viking, permitting Camber to, among other things, report underlying subsidiary revenues at the Camber level, and Camber would benefit directly and fully from Viking’s business activities, including as it relates to Viking’s interests in the following: Custom Energy & Power Solutions Business; Exclusive License to a Patented Clean Energy & Carbon-Capture system; Intellectual property rights to a fully developed, patented ready-for-market proprietary Medical & Bio-Hazard Waste Treatment system using Ozone Technology; and Patent pending ready-for-market proprietary Open Conductor Detection systems. As a next step concerning the Merger, Camber intends to file a preliminary registration statement on Form S-4 with the Securities and Exchange Commission.

Published first on TheFly

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