Vivakor signs non-binding LOI to buy Direct Midstream for $40M
Vivakor signed a non-binding LOI to acquire Direct Midstream for a gross $40M, with an investment at closing and additional Series B Preferred and common components; the purchase price is adjustable.
Vivakor signed a non-binding letter of intent to acquire Direct Midstream for a gross $40M, based on 4x targeted 2027 FCF of $10M. The deal includes a $10M investment at closing and about $29M in Series B Preferred plus about $1M common, with the purchase price adjustable to $30M-$50M.