Camber Energy (NYSEAMERICAN:CEI) stock was skyrocketing on Tuesday during regular trading hours and after the bell as the company teased an announcement regarding a deal it will likely be closing sometime over the next few days.
The energy company’s shares were soaring as it said that it was disclosing a Securities and Exchange Commission (SEC) filing in the form of a key deal that it will be closing. The announcement and completion of the deal is expected to take place sometime tomorrow, although the exact timeline of the deal is still unclear.
No one is entirely sure what the details of the Camber Energy deal is all about as none of the company’s recent press releases show any indication regarding what’s happening with it. The SEC filing shows that the deal will see the company sell some of its assets to N&B Energy.
The company had the following to say in a statement:
We are continuing to move forward with the negotiation of final closing documents associated with the Sale Agreement and the assumption of our IBC debt by N&B in connection therewith and currently contemplate closing the transactions contemplated in connection therewith on or around September 26, 2018, subject to the satisfaction of the conditions to closing set forth in the Sales Agreement.
CEI stock gained about 21.6% during regular trading hours in Tuesday after the company announced that it would be closing a deal with the SEC sometime tomorrow. Shares were up an additional 4.4% after hours on Tuesday in anticipation of Wednesday’s news.
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