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Vivakor ( (VIVK) ) has issued an update.
Vivakor, Inc. has announced the approval by its Board of Directors to proceed with the acquisition of the Endeavor Entities, a group of companies providing comprehensive midstream logistics services in the energy sector. This $120 million acquisition will significantly expand Vivakor’s operations, integrating with existing facilities and enhancing competitive advantages through a vast oilfield trucking fleet and strategic partnerships. The acquisition, which includes assumed debt and an earn-out adjustment, is set to close on October 1, 2024, following impressive biannual revenues of $47.3 million and EBITDA of $9.3 million from the Endeavor Entities.
See more data about VIVK stock on TipRanks’ Stock Analysis page.