secwatch.observer — SEC 8-K summary
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Issuer:     Vivakor, Inc. (VIVK)
CIK:        0001450704
Form:       8-K
Filed at:   2024-03-25T23:59:59+00:00
Accession:  0001829126-24-001850
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vivakor signs $120M deal to acquire Endeavor entities from CEO-affiliated sellers
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- Purchase price $120M: common stock at $1/share (up to 19.99% of pre-deal shares) plus Series A 6% cumulative convertible preferred.
- Earn-out: if 2024 EBITDA exceeds $12M, additional $49M in preferred; if below, up to $49M preferred returned to Vivakor.
- Sellers are affiliates of CEO/Chairman James Ballengee, who recused himself from the board vote.
- Acquired: Endeavor Crude (oil trucking, 132 tractors), Meridian Leasing, Equipment Transport, Silver Fuels (injection stations), CPE MidCon (40-mi pipeline).
- Closing due by June 30, 2024, subject to fairness opinion, HSR approval, audited financials, and other conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1450704/000182912624001850/0001829126-24-001850-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1450704/000182912624001850/vivakorinc_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-001850

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer