Vivakor, which provides soil remediation services focused on hydrocarbon extraction, filed on Tuesday with the SEC to raise up to $15 million in an initial public offering. The company is currently listed on the OTC under the symbol "VIVK."
Vivakor operates, acquires, and develops clean energy technologies and environmental solutions, specializing in the remediation of soil and the extraction of hydrocarbons. The company's process allows it to recover hydrocarbons from soil, which its believes can then be used to produce asphaltic cement and other petroleum-based products.
The South Salt Lake City, UT-based company was founded in 2006 and booked $1 million in revenue for the 12 months ended June 30, 2020. It plans to list on either the Nasdaq or NYSE American under the symbol VIVK. on the deal. The company has not selected an underwriter yet. No pricing terms were disclosed.
