Vivakor Inc (VIVK) has released an update.
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Vivakor, Inc. secured a $3 million term loan, backed by a range of guarantees and securities involving its subsidiaries and assets. The loan, with a substantial 22% annual interest rate, mandates monthly repayments after an initial interest-only period, and allows for a 10% prepayment premium within a set time frame. The deal includes a contingency for stock collateral issuance if the loan is not fully repaid by the maturity date. Additionally, shares were issued, and a finder’s fee was paid as part of the financing package, all underpinned by various agreements to protect the lender’s investment.
For further insights into VIVK stock, check out TipRanks’ Stock Analysis page.
