Vivakor enters merger agreement to acquire Empire Diversified Energy for $67.2M in stock

Vivakor, Inc.

Vivakor to issue 67.2 million shares valued at $1.00 each as consideration for Empire Diversified Energy merger.
Empire must have at least $2.5 million unrestricted net cash at closing.
Closing conditions include stockholder approvals, SEC registration statement effectiveness, and Nasdaq listing compliance.
Post-closing board to have seven members: James Ballengee (Chairman/CEO), three from Empire, two from Vivakor, one jointly.
Empire stockholders representing ≥65% of shares will sign 12-month lock-up; Vivakor extends existing lock-up to Feb 2025.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Vivakor, Inc. entered into Agreement and Plan of Merger with Empire Diversified Energy, Inc. valued at an aggregate of 67,200,000 shares (the “Consideration Shares”) of the Parent’s common stock, par val (effective 2024-02-26).

Action: entry
Agreement: merger
Counterparty: Empire Diversified Energy, Inc.
Value: an aggregate of 67,200,000 shares (the “Consideration Shares”) of the Parent’s common stock, par val
Effective: 2024-02-26

Exact text from the filing

On February 26, 2024 (the “Execution Date”), Vivakor, Inc., a Nevada corporation (the “Parent”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Empire Energy Acquisition Corp., a Delaware corporation and wholly owned subsidiary of the Parent (“Merger Sub”), and Empire Diversified Energy, Inc., a Delaware corporation (“Empire”

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Vivakor, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-24-001257

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