secwatch.observer — SEC 8-K summary
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Issuer:     Vivakor, Inc. (VIVK)
CIK:        0001450704
Form:       8-K
Filed at:   2024-04-12T23:59:59+00:00
Accession:  0001829126-24-002451
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vivakor amends $1M promissory note to add convertible feature at 90% discount with $0.75 floor
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- Original $1M loan (10% interest, Dec 31, 2024 maturity) now convertible at 90% of 3-day avg closing price, floor $0.75/share.
- Conversion capped at 4.99% ownership (can be raised to 9.99% on 61 days' notice).
- Obligation to issue 100,000 restricted shares from original loan remains in effect.
- Lender is accredited investor; issuance exempt under Section 4(a)(2).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1450704/000182912624002451/0001829126-24-002451-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1450704/000182912624002451/vivakorinc_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-24-002451

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