---
schema_version: "secwatch.filing_event.v1"
accession: "0001999371-24-010664"
form_type: "8-K"
ticker: null
cik: "0000890447"
company_name: "Vertex Energy Inc."
filed_at: "2024-08-26T23:59:59+00:00"
generated_at: "2026-05-31T07:46:24.457624+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Vertex Energy secures $25M new term loan at ~10.25%+Prime; board adds restructuring expert Stein

## Summary
- New $25M term loan from BlackRock, Whitebox, Highbridge, CrowdOut; proceeds received Aug 23, 2024.
- Interest rate: greater of Prime -1.5% or Fed Funds +0.5% (floor 1%) plus 10.25%; maturity Apr 1, 2025.
- Lenders consent to minimum consolidated liquidity of $12M (vs $25M) until Sep 20, 2024.
- Company to launch sale process for substantially all assets/equity by Sep 3, 2024; RSA target by Sep 20.
- Jeffrey Stein appointed to board, effective Aug 23, 2024; receives $45,000/month cash compensation.

## SEC filing metadata
- accession: 0001999371-24-010664
- form_type: 8-K
- cik: 0000890447
- company_name: Vertex Energy Inc.
- filed_at: 2024-08-26T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.03, 3.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/890447/000199937124010664/0001999371-24-010664-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/890447/000199937124010664/vtnr_8k-082324.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001999371-24-010664
- JSON: https://secwatch.observer/filing/0001999371-24-010664.json
- Plain text: https://secwatch.observer/filing/0001999371-24-010664.txt

## Key facts
- Executive change
  Jeffrey S. Stein was appointed as member of the Board of Directors at Vertex Energy Inc..
  - Action: appointed
  - Role: member of the Board of Directors
  source text: Effective on August 23, 2024, the Board of Directors (the “ Board ”) of the Company increased the number of members of the Board of Directors from five (5) to six (6), pursuant to a resolution of the Board in accordance with the Second Amended and Restated Bylaws of the Company (the “ Bylaws ”), and appointed Jeffrey S. Stein as a member of the Board of Directors to fill the newly created vacancy.
  evidence_url: https://www.sec.gov/Archives/edgar/data/890447/000199937124010664/0001999371-24-010664-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.