VIVK - InvestorNewsBreaks - Vivakor Inc. (NASDAQ: VIVK) Closes $8M Underwritten Public Offering Commences Trading on the Nasdaq
Vivakor (NASDAQ: VIVK), a socially responsible operator, acquirer and developer of clean energy technologies and environmental solutions, has announced the closing of its underwritten public offering of 1,600,000 shares of common stock, each at a public offering price of $5.00, for aggregate gross proceeds of $8.0 million. In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 240,000 shares of common stock at the public offering price per share, less underwriting discounts and commissions, to cover over-allotments, if any. Vivakor’s common stock began trading on the Nasdaq Capital Market under the symbol VIVK on Feb. 14, 2022. EF Hutton, division of Benchmark Investments LLC, acted as sole book-running manager for the offering. Lucosky Brookman LLP acted as counsel to the company and Sheppard, Mullin, Richter & Hampton LLP acted as counsel to the underwriter in connection with the offering.
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About Vivakor Inc.
Vivakor is a clean energy technology and asset acquisition company with a focus in the area of natural resources. Vivakor's corporate mission is to create, acquire and accumulate distinct assets, intellectual properties and exceptional technologies that produce solid returns to its valued shareholders and partners. The company currently focuses on bitumen (heavy crude) extraction from shallow, oil-laden areas in Eastern Utah, along with petroleum-based remediation projects across the globe. The technologies utilized are low-cost, proprietary and proving themselves industry disruptive when measured by a number of important factors. The general business model has been to be an acquisition hub, focused on building and acquiring cash-flowing assets in discrete areas that have an acknowledged technological advantage and enable a substantial market opportunity within significant target markets across the globe. Vivakor's research and the technology it acquires are anchored by the company’s relationships with synergistic partners and product-specific commercialization strategies. From the point of product or technology conception, or through acquisition, development and commercialization, Vivakor expects to have strategic partners, joint ventures or licensing arrangements in place for many of its products to sustain revenue attainment. For more information, visit the company’s website at www.Vivakor.com.
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