FAQ on Vivakor, Inc.'s Sale of Non-Core Subsidiaries and Debt Elimination
Summary
What subsidiaries did Vivakor, Inc. sell?
Vivakor, Inc. sold Meridian Equipment Leasing LLC and Equipment Transport LLC.
How much did the sale of the subsidiaries generate for Vivakor, Inc.?
The sale generated approximately $11 million in net consideration for Vivakor, Inc.
How much debt was eliminated as a result of the sale?
The sale removed about $59 million in debt.
What are the benefits of this sale for Vivakor, Inc.?
The sale improves Vivakor’s credit metrics, strengthens its capital structure, cuts annual interest expenses, and allows the company to focus on higher margin segments.
Which sectors will Vivakor, Inc. now focus on?
Vivakor, Inc. will redirect its focus toward crude oil transportation, midstream infrastructure, and environmental remediation services.
Who is the Chairman, President and CEO of Vivakor, Inc.?
James H. Ballengee is the Chairman, President and CEO of Vivakor, Inc.
Where can I find more information about Vivakor, Inc.?
More information about Vivakor, Inc. can be found on their website at http://vivakor.com or in the company’s newsroom at https://ibn.fm/VIVK.
What is the significance of this sale for investors?
This sale signifies Vivakor’s strategic move to streamline operations, raise cash, enhance capital efficiency, and focus on more profitable segments, which could be beneficial for investors.
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