Vertex Energy Inc.

Form Type: 8-K

Filing Date: 2024-12-27

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000199937124015845

Comments: On December 20, 2024, Vertex Energy, Inc. received a Confirmation Order from the Bankruptcy Court confirming the Second Amended Joint Chapter 11 Plan. This plan outlines that upon its effective date, all existing equity interests, including shares of common stock, will be canceled. Holders of Allowed DIP Claims will receive New Common Stock in exchange for their claims. Holders of Allowed Term Loan Claims will also receive New Common Stock or a combination of New Common Stock and a New Term Loan Facility. The plan indicates that common stock trading is highly speculative and may not reflect actual recovery for shareholders. As of December 26, 2024, Vertex reported total assets of approximately $256.5 million and total liabilities of approximately $419.9 million. The company's existing common stock is now traded on the OTC Pink Market under the symbol 'VTNRQ' after being delisted from Nasdaq on October 8, 2024, following the initiation of bankruptcy proceedings.

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