Vivakor issues 878,255 shares to J.J. Astor upon convertible note conversion; Second Note fully satisfied
Vivakor disclosed that on October 9, 2026, J.J. Astor & Co. delivered Notices of Conversion converting $1,972,472.08 of the Second Note into 878,255 shares of the Company's common stock. The conversions satisfy the Company's remaining obligations under the $5,940,000 junior secured convertible promissory note originally issued on July 9, 2025, under which the Company had received $4,400,000 in net proceeds before fees. The shares were issued without a Rule 144 restrictive legend based on a legal opinion and in r...
Key takeaways
Convertible note conversion: J.J. Astor converted $1,972,472.08 of principal/amount due under the Second Note into 878,255 shares of VIVK common stock on October 9, 2026.
Second Note fully satisfied: The conversions extinguish the Company's obligations under the July 9, 2025 $5,940,000 junior secured convertible promissory note issued to J.J. Astor & Co.
Original financing terms: The $5,940,000 Second Note carried net proceeds to the Company of $4,400,000 before fees and was issued under a Loan and Security Agreement with the Company and its subsidiaries.
Exemption and legend: The 878,255 shares were issued without a Rule 144 restrictive legend pursuant to a legal opinion; the sale was exempt from registration under Section 4(a)(2) as the holder is an accredited investor.
Filing logistics: Form 8-K disclosed Item 3.02 only, with no financial statements or other exhibits beyond the Inline XBRL Cover Page Interactive Data File (Exhibit 104).
Issuer status: Vivakor is a Nevada-incorporated Nasdaq Capital Market-listed emerging growth company headquartered in Dallas, Texas.
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