secwatch.observer — SEC 8-K summary
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Issuer:     Vertex Energy Inc. (—)
CIK:        0000890447
Form:       8-K
Filed at:   2025-01-22T23:59:59+00:00
Accession:  0001999371-25-000518
Event type: other_material
Sentiment:  positive
Materiality: 1.00
Item codes: 1.01, 1.02, 1.03, 2.03, 3.02, 3.03, 5.01, 5.02, 5.03, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vertex Energy emerges from Chapter 11, cancels stock, becomes private with new CEO
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- Approximately $320M of prepetition debt eliminated; up to $100M exit financing secured, including $40M initial borrowings.
- All existing common stock (VTNRQ) and warrants cancelled; new equity issued to DIP/term loan lenders including BlackRock, Highbridge, Whitebox.
- Mark Smith appointed CEO; Benjamin Cowart and Chris Carlson depart; new board with Eugene Davis as Chairman appointed.
- Company becomes privately held; intends to file Form 15 to deregister and suspend SEC reporting obligations.
- New term loan facility matures Jan 2030 at Term SOFR + 6.00% or ABR + 5.00%; secured by substantially all assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/890447/000199937125000518/0001999371-25-000518-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/890447/000199937125000518/vtnr-8k_012125.htm
  HTML page:      https://secwatch.observer/filing/0001999371-25-000518

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer