Vivakor, Inc. announced that it has entered into a loan and security agreement for a private placement with the principal amount of $3,000,000 on February 5, 2024. The transaction will include participation from new lender, Cedarview Opportunities Master Fund L.P., a fund managed by Cedarview Capital Management, LP. The company has issued non-convertible secured promissory note in the transaction.

The note carries a 22% interest rate per annum. The note will mature on May 5, 2025. The company will pay the due principal amounts in following ways, for the first three months, the company shall make an interest only payment of $165,000, which the company prepaid on the closing date, and for the following twelve months, the company shall make monthly installment payments of $250,000 plus interest, which must be made on or before the maturity date.