Bankruptcy: Straumins Jennifer
Form Type: SCHEDULE 13D/A
Filing Date: 2025-01-23
Corporate Action: Bankruptcy
Type: Update
Accession Number: 000149315225003455
Filing Summary: This Amendment No. 1 to Schedule 13D updates the previous filing made on January 29, 2024, detailing significant developments related to Vertex Energy, Inc. Following the Chapter 11 bankruptcy filings on September 24, 2024, the Bankruptcy Court confirmed a restructuring plan on December 20, 2024, which became effective on January 21, 2025. As per the Plan, all outstanding shares of Common Stock and related equity instruments were canceled as of the effective date. The restructured company issued new common equity interests to holders of specific claims under the Plan, which are not required to be reported under Section 13 of the applicable Act. Additionally, as of January 21, 2025, the Reporting Person, Jennifer Straumins, no longer holds more than five percent of the outstanding Common Stock.
Additional details:
Common Stock Cancellation: All shares of Common Stock and any other equity-based instruments were deemed cancelled, released, and extinguished as of January 21, 2025.
Bankruptcy Case Filing Date: 2024-09-24
Bankruptcy Plan Confirmation Date: 2024-12-20
Plan Effective Date: 2025-01-21
New Common Stock Issuance: New Common Stock was issued to holders of Allowed DIP Claims and Allowed Term Loan Claims.
Reporting Person Beneficial Ownership Status: Jennifer Straumins ceased to beneficially own more than five percent of the outstanding Common Stock as of January 21, 2025.
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