Vivakor, Inc. (VIVK): M&A transaction — Vivakor closes $120M acquisition of Endeavor Entities; appoints new COO

Vivakor, Inc.

Acquired all membership interests in four crude-hauling entities for $120M in common and Series A preferred stock.
CEO James Ballengee beneficially owns sellers; issued 19.99% of pre-closing common plus preferred with 6% cumulative dividend.
Russ Shelton appointed EVP & COO; base salary $337K, annual incentive up to $808K, $150K signing stock grant (18-mo lockup).
Combined fleet >500 tractors/trailers hauling ~60K bbl crude and ~30K bbl produced water daily; also owns Oklahoma shuttle pipeline.

item 1.01 item 2.01 item 3.02 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Russ Shelton

Executive Vice President & Chief Operating Officer

VIVK · Vivakor, Inc.

Filed: October 7, 2024, 7:59 PM ET

Russ Shelton, 48, Executive Vice President & Chief Operating Officer

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Russ Shelton was appointed as Executive Vice President & Chief Operating Officer at Vivakor, Inc..

Action: appointed
Role: Executive Vice President & Chief Operating Officer

Exact text from the filing

Russ Shelton, 48, Executive Vice President & Chief Operating Officer

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Vivakor, Inc. completed an acquisition involving Jorgan Development, LLC and JBAH Holdings, LLC for $120 million (closed 2024-10-01).

Action: acquisition
Counterparty: Jorgan Development, LLC and JBAH Holdings, LLC
Consideration: $120 million
Closing: 2024-10-01

Exact text from the filing

and operate a crude oil shuttle pipeline and exclusive connected blending and processing facility in Blaine County, Oklahoma. The purchase price for the Membership Interests is $120 million (the “Purchase Price”), subject to post-closing adjustments, including assumed debt and an earn-out adjustment, payable by the Company in a combination of Company common stock,

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5 m&a transactions filed in the last 30 days. Browse all m&a transactions →

Vivakor, Inc. filing history →

Source: SEC EDGAR

accession 0001829126-24-006683

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