Vivakor, Inc. Files 8-K: Material Agreement & Equity Sales
Ticker: VIVK · Form: 8-K · Filed: Sep 11, 2024 · CIK: 1450704
Sentiment: neutral
Topics: material-agreement, equity-sale, financials
TL;DR
Vivakor 8-K: New deal signed, equity sold, financials filed. Watch closely.
AI Summary
On September 5, 2024, Vivakor, Inc. entered into a material definitive agreement. The company also reported on unregistered sales of equity securities and filed financial statements and exhibits. The filing details are associated with accession number 0001829126-24-006223.
Why It Matters
This 8-K filing indicates significant corporate activity, including a new material agreement and equity transactions, which could impact the company's financial structure and future operations.
Risk Assessment
Risk Level: medium — The filing involves material definitive agreements and unregistered sales of equity, which can introduce financial and operational risks.
Key Numbers
- 001-41286 — SEC File Number (Identifier for Vivakor, Inc.'s filings)
- 26-2178141 — IRS Employer Identification No. (Tax identification for Vivakor, Inc.)
Key Players & Entities
- Vivakor, Inc. (company) — Registrant
- September 5, 2024 (date) — Date of earliest event reported
- 0001829126-24-006223 (document_id) — Accession Number
- Nevada (jurisdiction) — State of incorporation
- 5220 Spring Valley Road, Suite 500 Dallas, TX 75254 (address) — Principal executive offices
FAQ
What is the nature of the material definitive agreement entered into by Vivakor, Inc. on September 5, 2024?
The filing does not specify the details of the material definitive agreement, only that one was entered into on September 5, 2024.
What type of equity securities were sold by Vivakor, Inc. in the unregistered sales reported?
The filing mentions unregistered sales of equity securities but does not provide specific details on the type or amount of securities sold.
What are the key items reported in this Form 8-K filing by Vivakor, Inc.?
The key items reported are the entry into a Material Definitive Agreement, Unregistered Sales of Equity Securities, and Financial Statements and Exhibits.
When was the earliest event reported in this Form 8-K filing?
The earliest event reported in this Form 8-K filing occurred on September 5, 2024.
What is the principal executive office address for Vivakor, Inc. as listed in the filing?
The principal executive office address for Vivakor, Inc. is 5220 Spring Valley Road, Suite 500, Dallas, TX 75254.
Filing Stats: 678 words · 3 min read · ~2 pages · Grade level 10.7 · Accepted 2024-09-11 16:44:05
Key Financial Figures
- $500,000 — hares of the Company's common stock for $500,000, at a price of $0.50 per common share.
- $0.50 — ommon stock for $500,000, at a price of $0.50 per common share. Pursuant to the SPA,
Filing Documents
- vivakorinc_8k.htm (8-K) — 33KB
- vivakorinc_ex10-1.htm (EX-10.1) — 36KB
- 0001829126-24-006223.txt ( ) — 251KB
- vivk-20240905.xsd (EX-101.SCH) — 3KB
- vivk-20240905_lab.xml (EX-101.LAB) — 33KB
- vivk-20240905_pre.xml (EX-101.PRE) — 22KB
- vivakorinc_8k_htm.xml (XML) — 4KB
01
Item 1.01. Entry into a Material Definitive Agreement. Sale of Unregistered Equity Securities On September 5, 2024, the Company closed on a Securities Purchase Agreement with E-Starts Money Co., a Delaware corporation (the "SPA" and "E-Starts", respectively) dated August 28, 2024, under which E-Starts, purchased 1,000,000 shares of the Company's common stock for $500,000, at a price of $0.50 per common share. Pursuant to the SPA, the shares issued to E-Starts will be subject to standard Rule 144 restrictions. E-Starts is controlled by William Tuorto, who also controls Empire Diversified Energy, Inc., a Delaware corporation ("Empire"). As previously disclosed in the Company's Current Report on Form 8-K filed with the Commission on March 1, 2024 (the "March 8-K"), we entered into an Agreement and Plan of Merger (the "Merger Agreement") with Empire under which Empire will merge with and into a subsidiary of the Company and Empire will become a wholly-owned subsidiary of the Company if the parties close the transaction contemplated by the Merger Agreement. There is no guarantee that the transactions contemplated by the Merger Agreement will close. This summary is not a complete description of all of the terms of the SPA and the Merger Agreement, and is qualified in its entirety by reference to the full text of the SPA and the Merger Agreement. The form of the SPA is filed as Exhibit 10.1 hereto and the form of Merger Agreement is attached as Exhibit 2.1 to the March 8-K, both of which are incorporated by reference into this Item 1.01.
02
Item 3.02. Unregistered Sales of Equity Securities. To the extent required by this Item 3.02, the information contained in Item 1.01 is incorporated herein by reference. The Company relied on the exemption provided for under Section 4(a)(2) for the issuance of common shares pursuant to the SPA, and E-Starts is an accredited investor and familiar with the Company's operations.
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 10.1 Securities Purchase Agreement dated August 28, 2024 by and between the Company and E-Starts, as Buyer 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. VIVAKOR, INC. Dated: September 11, 2024 By: /s/ James Ballengee Name: James Ballengee Title: Chief Executive Officer 2