Corporate ActionAug 4, 2026, 05:28 PM
Vivakor Converts $1.33M Debt to 1.3M Shares
AI Summary
Vivakor, Inc. announced the conversion of two convertible promissory notes into common stock. The company converted $135,328 from one note into 139,513 shares, fully settling that obligation. Additionally, $1,199,342.24 from a second note was converted into 1,160,000 shares. In total, Vivakor issued 1,299,513 common shares, which were exempt from registration under Section 4(a)(2) of the Securities Act and issued without a Rule 144 restrictive legend.
Key Highlights
- Vivakor converted $135,328 of a convertible note into 139,513 common shares.
- This conversion fully settled all amounts due under the first convertible promissory note.
- Vivakor converted $1,199,342.24 from a second junior secured convertible note into 1,160,000 common shares.
- The total debt converted across both notes amounted to approximately $1,334,670.
- A total of 1,299,513 common shares were issued due to these conversions.
- All issued shares were exempt from registration under Section 4(a)(2) of the Securities Act.
- The shares were issued without a Rule 144 restrictive legend based on legal opinions.
Price Impact
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