Vivakor Announces 1-for-15 Reverse Split to Maintain Nasdaq Listing
VIVK is trading near its 52-week low of $0.5 (7.9% below the low).
Summary
Vivakor will execute a 1-for-15 reverse stock split effective October 5, 2026, reducing outstanding shares from about 8.98 million to roughly 598,794. The move aims to lift the share price and preserve Nasdaq listing compliance. This follows a 1-for-20 reverse split in July 2026 and comes amid going concern doubts, a $58 million working capital deficit, and ongoing dilution from convertible notes. COO Leslie D. Patterson resigned effective Sept. 24, 2026, with a $150,000 severance payment and a consulting agreement to be signed by Oct. 9, 2026. The company's stock trades near its 52-week low at $0.46, and the split will mechanically raise the price but does not address underlying financial distress. Watch for post-split trading on October 5 and any subsequent financing or listing updates.
Updated with an SEC 8-K filing · What changed
Updates
· Wiseek News — EVP/COO Leslie D. Patterson resigned effective Sept. 24, 2026; stock fell 27% after hours to $0.37.
· SEC 8-K — COO Leslie D. Patterson resigned effective Sept. 24, 2026, with a $150,000 severance payment and a consulting agreement to be signed by Oct. 9, 2026.
At the time of this announcement, VIVK was trading at $0.46 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $4.5M. The 52-week trading range was $0.50 to $2,384.00. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.