Vivakor, Inc. (Nasdaq: VIVK), an integrated energy infrastructure and environmental services company, announced the successful closing of a registered direct offering resulting in aggregate gross proceeds of approximately $3.5 million, before placement agent fees and offering expenses.
The offering consisted of 10,909,090 shares of common stock and 5,000,000 pre-funded warrants and was completed with a single institutional investor.
The securities were offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-289881) previously declared effective by the U.S. Securities and Exchange Commission.
Net proceeds from the offering are expected to be used for general corporate purposes.
D. Boral Capital LLC acted as exclusive placement agent for the offering. Lucosky Brookman LLP acted as counsel to Vivakor, Inc. in connection with the transaction.
