secwatch.observer — SEC 8-K summary
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Issuer:     Vivakor, Inc. (VIVK)
CIK:        0001450704
Form:       8-K
Filed at:   2025-05-20T23:59:59+00:00
Accession:  0001829126-25-003839
Event type: debt
Sentiment:  negative
Materiality: 0.55
Item codes: 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vivakor raises $500K net via convertible notes; issues 1.76M shares for dividends to CEO-controlled entities
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- Issued convertible notes with $575K principal ($500K net) to accredited investors; 12-month maturity, 10% interest at issuance, 15% OID.
- Notes convertible at 80% of lower of prior day's close or avg of 4 lowest VWAPs over 20 trading days; also issued 75,000 inducement shares.
- Issued 1,764,964 restricted common shares for Series A preferred dividends; 1,384,311 to CEO-controlled Jorgan Development, 13,983 to JBAH Holdings.
- SPA allows up to $5.75M principal ($5M purchase) through June 30, 2025; initial close is $575K principal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1450704/000182912625003839/0001829126-25-003839-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1450704/000182912625003839/vivakor_8k.htm
  HTML page:      https://secwatch.observer/filing/0001829126-25-003839

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