Vivakor (VIVK) said Thursday it has struck a deal to sell about 8.4 million shares and some 14.7 million pre-funded warrants to an institutional investor to raise about $5 million.

The warrants are exercisable at $0.001 per share, the energy infrastructure & environmental services firm said. It expects to close the offering Oct. 17, with D. Boral Capital as the placement agent.

Vivakor said it plans to use the proceeds for working capital and general corporate purposes.

Shares of the company were up over 4% in recent trading.

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