UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June
15, 2020
Camber Energy, Inc.
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(Exact name of registrant as specified in its charter)
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Nevada
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001-32508
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20-2660243
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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1415 Louisiana, Suite 3500, Houston, Texas
77002
(Address of principal executive offices)
(210) 998-4035
(Registrant’s telephone number, including
area code)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of
the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, $0.001 Par Value Per Share
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CEI
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NYSE American
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). ☐
If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Explanatory Note
As previously disclosed
in the Current Report on Form
8-K filed on February 5, 2020, by Camber Energy, Inc. (“Camber” or the “Company”),
the Company, on February 3, 2020, entered into an Agreement and Plan of Merger, which was amended by a First Amendment to Agreement
and Plan of Merger dated on or around May 27, 2020 (as amended to date, the “Merger Agreement”) with Viking
Energy Group, Inc. (“Viking”), which contemplates a newly-formed wholly-owned subsidiary of Camber merging with
and into Viking (the “Merger”), with Viking surviving the Merger as a wholly-owned subsidiary of Camber. This
Current Report on Form 8-K is being filed to disclose an amendment to the Merger Agreement.
Item 1.01.
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Entry into a Material Definitive Agreement.
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On June 15, 2020, Viking
and Camber entered into a Second Amendment to Agreement and Plan of Merger (the “Second Amendment”) to amend
the Merger Agreement to extend the date after which the Merger Agreement can be cancelled by either Camber or Viking, if not completed
thereby, from June 30, 2020 to September 30, 2020, provided that either Camber or Viking have the right to further extend such
date from time to time, until up to December 31, 2020, in the event that Camber has not fully resolved Securities and Exchange
Commission (SEC) comments on Registration Statement on Form S-4 which Camber filed in connection with the Merger, or other SEC
filings related to the Merger, and Camber is responding to such comments in a reasonable fashion, subject to certain exceptions.
The foregoing description
of the Second Amendment is not a complete summary and is qualified in its entirety by reference to the full text of the Second
Amendment, which is filed as Exhibit 2.3 to this Current Report on Form 8-K and incorporated by reference into
this Item 1.01.
On June 1, 2020, Viking
and Camber each published a joint press release announcing the entry into the Second Amendment and updating the status of the Merger.
A copy of the press release is included herewith as Exhibit 99.1, and the information in the press release is
incorporated by reference into this Item 8.01.’
As of June 15, 2020, the
Company had 10,328,717 shares of common stock issued and outstanding (which does not include approximately 0.6 million shares of common
stock which are still due to the holder of the Company’s Series C Preferred Stock from prior conversions of Series C Preferred
Stock, and which are currently held in abeyance, subject to issuance at the request of such holder, and such holder’s 9.99%
ownership limitation). The increase in our outstanding shares of common stock from the date of the Company’s April 16, 2020
increase in authorized shares of common stock (from 5 million shares, to 25 million shares, pursuant to the approval of the stockholders
of the Company at the annual meeting of stockholders held on the same day), is almost solely entirely due to conversions of shares
of Series C Preferred Stock of the Company into common stock, and conversion premiums due thereon, which are payable in shares
of common stock, pursuant to the designation of such Series C Preferred Stock. The conversions are in the sole discretion of the
Series C Preferred Stockholder. The number of shares of common stock due to the Series C Preferred Stock holder are subject to
increase and adjustment as the price of the Company’s common stock declines in value.
Item 9.01.
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Financial Statements and Exhibits.
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(d) Exhibits.
Exhibit
Number
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Description of Exhibit
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2.1#
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Agreement and Plan of Merger, dated as of February 3, 2020, by and between Viking Energy Group, Inc. and Camber Energy, Inc. (Filed as Exhibit 2.1 to the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on February 5, 2020, and incorporated by reference herein)(File No. 001-32508)
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2.2
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First Amendment to Agreement and Plan of Merger, dated as of May 27, 2020, by and between Viking Energy, Inc. and Camber Energy, Inc. (Filed as Exhibit 2.2 to the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on June 1, 2020, and incorporated by reference herein)(File No. 001-32508)
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2.3*
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Second Amendment to Agreement and Plan of Merger, dated as of June 15, 2020, by and between Viking Energy, Inc. and Camber Energy, Inc.
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99.1**
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Press release dated June 16, 2020
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* Filed herewith.
** Furnished herewith.
# Certain schedules and exhibits have been
omitted pursuant to Item 601(b)(2) of Regulation S-K. A copy of any omitted schedule or Exhibit will be furnished supplementally
to the Securities and Exchange Commission upon request; provided, however that Camber Energy, Inc. may request confidential treatment
pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended, for any schedule or Exhibit so furnished.
Forward-Looking Statements
Certain of the matters
discussed in this communication which are not statements of historical fact constitute forward-looking statements that involve
a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform
Act of 1995. Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,”
“believes,” “would,” “will,” “estimates,” “intends,” “projects,”
“goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements
but are not the exclusive means of identifying these statements.
Important factors that
may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without
limitation, the occurrence of any event, change or other circumstances that could give rise to the parties failing to complete
the merger on the terms disclosed, if at all, the right of one or both of Viking or Camber to terminate the merger agreement and
the result of such termination; the outcome of any legal proceedings that may be instituted against Viking, Camber or their respective
directors; the ability to obtain regulatory approvals and other consents, and meet other closing conditions to the merger on a
timely basis or at all, including the risk that regulatory approvals or other consents required for the merger are not obtained
on a timely basis or at all, or which are obtained subject to conditions that are not anticipated or that could adversely affect
the combined company or the expected benefits of the transaction; the ability to obtain approval by Viking stockholders and Camber
stockholders on the expected schedule; required closing conditions which may not be able to be met and/or consents which may not
be able to be obtained; difficulties and delays in integrating Viking’s and Camber’s businesses; prevailing economic,
market, regulatory or business conditions, or changes in such conditions, negatively affecting the parties, including, but not
limited to, as a result of the recent volatility in oil and gas prices and the status of the economy (both US and global) due to
the Covid-19 pandemic and actions taken to slow the spread of Covid-19; risks that the transaction disrupts Viking’s or Camber’s
current plans and operations; failing to fully realize anticipated cost savings and other anticipated benefits of the merger when
expected or at all; potential adverse reactions or changes to business relationships resulting from the announcement or completion
of the merger; the ability of Camber to obtain the approval of its Series C Preferred Stock holder to close the Merger; the ability
of Viking or Camber to retain and hire key personnel; the diversion of management’s attention from ongoing business operations;
uncertainty as to the long-term value of the common stock of the combined company following the merger; the continued availability
of capital and financing, prior to, and following, the merger; the business, economic and political conditions in the markets in
which Viking and Camber operate; and the fact that Viking’s and Camber’s reported earnings and financial position may
be adversely affected by tax and other factors.
Other important factors
that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included
in this communication are described in the Form S-4, and Viking’s and Camber’s publicly filed reports, including Viking’s
Annual Report on Form 10-K for the year ended December 31, 2019, Camber’s Annual Report on Form 10-K for the year ended
March 31, 2019 and subsequently filed Quarterly Reports on Form 10-Q.
Viking and Camber caution
that the foregoing list of important factors is not complete, and they do not undertake to update any forward-looking statements
that either party may make except as required by applicable law. All subsequent written and oral forward-looking statements attributable
to Viking, Camber or any person acting on behalf of either party are expressly qualified in their entirety by the cautionary statements
referenced above.
Additional Information and Where to Find
It
In connection with the
planned merger, on June 4, 2020 Camber filed with the Securities and Exchange Commission (SEC), a preliminary draft of a registration
statement on Form S-4 to register the shares of Camber’s common stock to be issued in connection with the merger. The registration
statement includes a preliminary joint proxy statement/prospectus which, when finalized, will be sent to the respective stockholders
of Viking and Camber seeking their approval of their respective transaction-related proposals. INVESTORS AND SECURITY HOLDERS ARE
URGED TO READ THE FINAL REGISTRATION STATEMENT ON FORM S-4 AND THE RELATED JOINT PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE
FINAL REGISTRATION STATEMENT ON FORM S-4, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS AND ANY OTHER RELEVANT DOCUMENTS
FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PLANNED MERGER, WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT VIKING, CAMBER AND THE PLANNED MERGER.
Investors and security
holders may obtain copies of these documents free of charge through the website maintained by the SEC at www.sec.gov or from Viking
at its website, www.vikingenergygroup.com, or from Camber at its website, www.camber.energy. Documents filed with the SEC by Viking
will be available free of charge by accessing Viking’s website at www.vikingenergygroup.com under the heading “Investors”
– “SEC Filings”, or, alternatively, by directing a request by telephone or mail to Viking Energy Group, Inc.
at 15915 Katy Freeway, Suite 450, Houston, Texas, 77094, (281) 404-4387, and documents filed with the SEC by Camber will be available
free of charge by accessing Camber’s website at www.camber.energy under the heading “Investors” – “SEC
Filings” or, alternatively, by directing a request by telephone or mail to Camber Energy, Inc. at 1415 Louisiana, Suite 3500,
Houston, Texas, 77002, (210) 998-4035.
Participants in the Solicitation
Viking, Camber and certain
of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the respective
stockholders of Viking and Camber in respect of the planned merger under the rules of the SEC. Information about Viking’s
directors and executive officers is available in Viking’s Annual Report on Form 10-K for the year ended December 31,
2019. Information about Camber’s directors and executive officers is available in Camber’s Annual Report on Form 10-K
for the year ended March 31, 2019 and its definitive proxy statement for its 2020 annual meeting of shareholders. Other information
regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings
or otherwise, will be contained in the final joint proxy statement/prospectus and other relevant materials to be filed with the
SEC regarding the merger when they become available. Investors should read the final joint proxy statement/prospectus carefully
when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from
Viking or Camber using the sources indicated above.
No Offer or Solicitation
This communication shall
not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities,
in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements
of Section 10 of the Securities Act of 1933, as amended.
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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CAMBER ENERGY, INC.
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By:
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/s/ Robert Schleizer
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Name:
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Robert Schleizer
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Title:
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Chief Financial Officer
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Date: June 16, 2020
EXHIBIT INDEX
Exhibit
Number
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Description of Exhibit
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2.1#
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Agreement and Plan of Merger, dated as of February 3, 2020, by and between Viking Energy Group, Inc. and Camber Energy, Inc. (Filed as Exhibit 2.1 to the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on February 5, 2020, and incorporated by reference herein)(File No. 001-32508)
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2.2
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First Amendment to Agreement and Plan of Merger, dated as of May 27, 2020, by and between Viking Energy, Inc. and Camber Energy, Inc. (Filed as Exhibit 2.2 to the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on June 1, 2020, and incorporated by reference herein)(File No. 001-32508)
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2.3*
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Second Amendment to Agreement and Plan of Merger, dated as of June 15, 2020, by and between Viking Energy, Inc. and Camber Energy, Inc.
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99.1**
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Press release dated June 16, 2020
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* Filed herewith.
** Furnished herewith.
# Certain schedules and exhibits have been
omitted pursuant to Item 601(b)(2) of Regulation S-K. A copy of any omitted schedule or Exhibit will be furnished supplementally
to the Securities and Exchange Commission upon request; provided, however that Camber Energy, Inc. may request confidential treatment
pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended, for any schedule or Exhibit so furnished.
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