Vivakor Signs LOI for Proposed $40 Million Acquisition of Direct Midstream

Vivakor, Inc. announced a non-binding Letter of Intent to acquire 100% of Direct Midstream, LLC for a gross purchase price of $40 million, valued at 4x Direct Midstream's targeted 2027 free cash flow of $10 million. The deal includes a $10 million capital investment by Vivakor and consideration of approximately $29 million in Series B Preferred Stock and $1 million in common stock. The acquisition aims to expand Vivakor's Permian Basin infrastructure and add produced water and oilfield waste management capabilities.