CEI - Camber Energy Viking Energy skyrocket after shareholders OK merger

2023-07-21 16:07:38 ET

Camber Energy ( NYSE: CEI ) and Viking Energy ( OTCQB:VKIN ) soared in Friday's trading, +52.1% and +27.4% respectively, after shareholders of both companies approved their long-delayed merger .

Camber ( CEI ) reached its highest closing since May 11, and Viking ( OTCQB:VKIN ) hit its best close since April 27.

According to the merger deal, a wholly-owned Camber ( CEI ) subsidiary will merge with and into Viking ( OTCQB:VKIN ), with Viking surviving the merger as a wholly-owned subsidiary of Camber, which will remain the sole publicly traded entity; the deal is expected to be completed on or about August 1.

More on Camber Energy:

• Financial and valuation comparison to sector peers
• Stock price return: Down 58% YTD, down 96% in the past 12 months

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