CEI - Camber Energy climbs after signing financing agreement

Camber Energy (CEI +13.6%) jumps in early trading on news that it will receive a $25M loan and issue warrants entitling the lender to purchase up to 50M common shares exerciseable at $10 and $20 per share. Camber President and CEO James Doris says the financing terms are "the most favorable terms the company has been able to negotiate in its history." The loan is subject to conditions, including Camber obtaining on or before Dec. 31 approval of the increase in its authorized common stock as outlined in the proxy statement filed with the SEC last month. Camber shares are roughly breakeven over the past year but have dropped nearly 80% from their late-September $4.85 peak.

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Camber Energy climbs after signing financing agreement