secwatch.observer — SEC 8-K summary
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Issuer:     Vertex Energy Inc. (—)
CIK:        0000890447
Form:       8-K
Filed at:   2024-12-27T23:59:59+00:00
Accession:  0001999371-24-015845
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vertex Energy's Chapter 11 Plan confirmed; common stock to be canceled with no distribution
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- Bankruptcy Court confirmed Second Amended Joint Chapter 11 Plan on Dec 20, 2024.
- Under the plan, all existing common shares (93,514,346 outstanding) will be canceled and equity holders receive no distribution.
- Debtors reported ~$256.5M in assets and ~$419.9M in liabilities as of Nov 30, 2024.
- Plan provides for DIP and term loan claims to receive new common stock; unsecured creditors get interests in a GUC Trust.
- Effective date not set; reorganized debtors expect to no longer be subject to SEC reporting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890447/000199937124015845/0001999371-24-015845-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890447/000199937124015845/vtnrq-8k_12272024.htm
  HTML page:      https://secwatch.observer/filing/0001999371-24-015845

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