Vivakor Confirms Special Dividend of Adapti, Inc. Record Date Set for August 20, 2025

Rhea-AI Summary

Vivakor (Nasdaq: VIVK) has set August 20, 2025, as the record date for its special dividend distribution of Adapti, Inc. (OTCID: ADTI) shares to VIVK shareholders. The company will distribute its 206,595 Adapti shares (13.5% ownership) to eligible shareholders, with stockholders receiving approximately 0.0079 ADTI shares per VIVK share.

The special dividend, valued at approximately $0.75 million based on Adapti's current share price of $3.50, excludes 20,963,229 shares held by VIVK's CEO and former CFO who waived their dividend rights. Adapti, Inc., a mandatory SEC reporting company, recently acquired The Ballengee Group, LLC, a Dallas-based baseball sports management agency previously controlled by Vivakor's CEO.

Positive

• Special dividend distribution valued at $0.75 million to shareholders
• Distribution of shares in Adapti Inc, a growing AI-powered marketing platform
• CEO and former CFO waived their dividend rights, increasing the distribution for other shareholders

Negative

• Relatively small dividend ratio of 0.0079 ADTI shares per VIVK share
• Potential conflict of interest with CEO's previous control of acquired Ballengee Group

Dallas, TX, July 31, 2025 (GLOBE NEWSWIRE) -- Vivakor, Inc. (Nasdaq: VIVK) (“Vivakor” or the “Company”), an integrated provider of energy transportation, storage, reuse, and remediation service, today announced the record date of August 20, 2025 for its previously disclosed plan to issue a special dividend to Vivakor shareholders.

Vivakor currently holds 206,595 (approximately 13.5% of the outstanding common) shares of Adapti, Inc. (OTCID: ADTI), a company that manages the marketing of products, data and companies through its AdaptAI software platform that leverages advanced AI technology to match products and brands with influencers to attempt to generate superior marketing results.

Based on Vivakor’s current shares outstanding of approximately 47,297,347 and excluding 20,963,229 shares held by the Company’s Chief Executive Officer and former Chief Financial Officer who waived their right to the dividend, each Vivakor shareholder will be entitled to receive approximately 0.0079 shares of Adapti, Inc. common stock per Vivakor share. Based on the current $3.50 share price of Adapti’s common stock, the special dividend is currently valued at approximately $0.75 million.

Adapti, Inc., formerly known as Scepter Holdings, Inc., filed its Form 10 Registration Statement with the U.S. Securities and Exchange Commission (SEC) in September 2024 and has since become a mandatory SEC reporting company. Adapti, Inc. filed its Annual Report on 10K for the period ended March 31, 2025 on July 3, 2025.

The Ballengee Group, LLC, a Dallas-based baseball sports management agency which represents approximately 200 professional athletes, an entity previously controlled by Vivakor’s Chief Executive Officer, Mr. James Ballengee, was acquired by Adapti, Inc. on July 14, 2025. Additional information regarding this transaction can be found in Adapti, Inc.’s filings with the SEC.

About Vivakor, Inc.

Vivakor, Inc. is an integrated provider of sustainable energy transportation, storage, reuse, and remediation services, operating one of the largest fleets of oilfield trucking services in the continental United States. Its corporate mission is to develop, acquire, accumulate, and operate assets, properties, and technologies in the energy sector. Vivakor’s integrated facilities assets provide crude oil and produced water gathering, storage, transportation, reuse, and remediation services under long-term contracts.

Once operational, Vivakor's oilfield waste remediation facilities will facilitate the recovery, reuse, and disposal of petroleum byproducts and oilfield waste products.

For more information, please visit our website: http://vivakor.com

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. Forward-looking statements may be identified but not limited by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to, , the expected transaction and ownership structure, the valuation of the transaction, the likelihood and ability of the parties to successfully and timely consummate planned acquisitions, the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect Vivakor or the expected benefits of the such transaction, our ability to maintain the listing of our securities on The Nasdaq Capital Market, the parties failure to realize the anticipated benefits of pending transactions, disruption and volatility in the global currency, capital, and credit markets, changes in federal, local and foreign governmental regulation, changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, and general economic conditions.

These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the U.S. Securities and Exchange Commission, which factors may be incorporated herein by reference. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Vivakor and the Endeavor Entities or the date of such information in the case of information from persons other than Vivakor and the Endeavor Entities, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding the Endeavor Entities industries and markets are based on sources we believe to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

Investors Contact:
P:949-281-2606
info@vivakor.com

FAQ

When is the record date for Vivakor's (VIVK) special dividend of Adapti shares?

The record date for Vivakor's special dividend is set for August 20, 2025.

How many Adapti (ADTI) shares will VIVK shareholders receive per share?

Vivakor shareholders will receive approximately 0.0079 shares of Adapti stock per VIVK share owned.

What is the current value of VIVK's special dividend distribution?

Based on Adapti's current share price of $3.50, the special dividend is valued at approximately $0.75 million.

How many Adapti shares does Vivakor currently own?

Vivakor owns 206,595 shares of Adapti, Inc., representing approximately 13.5% of Adapti's outstanding common stock.

Are all Vivakor shareholders eligible for the Adapti special dividend?

No, the Company's CEO and former CFO, who hold 20,963,229 shares, have waived their right to the dividend.