Vivakor Enters Forbearance Agreements with Convertible Noteholders, Extending Maturities to 2027

Core Viewpoint - Vivakor, Inc. has entered into forbearance agreements with eight investors to extend the maturity of its convertible promissory notes until January 2027, revising payment terms to support compliance with Nasdaq listing standards [1][2][4]. Group 1: Forbearance Agreements - The forbearance agreements allow noteholders to refrain from exercising default remedies, contingent on Vivakor's compliance with the amended terms [2]. - The agreements extend the maturity of the notes to January 2027 and establish revised payment schedules requiring scheduled cash payments through maturity [2]. Group 2: Company Strategy and Financial Position - Vivakor's CEO stated that these agreements provide additional time to address near-term obligations and align the capital structure while working to restore Nasdaq listing [3]. - The company is supported by a non-binding Letter of Intent to sell its midstream business and transportation assets for approximately $36 million, based on $4.56 million in annual EBITDA [3]. - The agreements reduce near-term maturity and conversion pressure while the company works to regain compliance with Nasdaq listing standards [3]. Group 3: Operational Context - Vivakor is an integrated provider of energy transportation, storage, reuse, and remediation services, operating one of the largest fleets of oilfield trucking services in the continental United States [6]. - The company aims to develop, acquire, and operate assets in the energy sector, providing services under long-term contracts [6].