Vertex Energy Announces Key Step in Strengthening Balance Sheet Position with Private Exchange of Approximately $79.95 Million of 6.25% Convertible Notes Due 2027

Jun 08, 2023

Vertex Energy, Inc. (NASDAQ: VTNR) ("Vertex" or “the Company"), a leading specialty refiner and marketer of high-quality refined products, today announced that the Company has entered into privately negotiated exchange agreements with certain holders of its 6.25% Convertible Senior Notes due 2027 (the “Existing Notes”) to exchange approximately $79.9 million aggregate principal amount of the Existing Notes held by such holders (the “Exchanges”) for an aggregate of approximately 17.2 million newly issued shares of Vertex common stock, pursuant to an exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933, as amended. After the closing of the Exchanges, which is expected to occur on or around June 12, 2023, subject to customary closing conditions, approximately $15.2 million aggregate principal amount of the Existing Notes will remain outstanding. The Exchanges could affect the market price of Vertex’s common stock.

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