Vertex Energy Inc. (VTNR) shares have gained 5.69% at $9.1 in Thursday’s premarket session. Vertex Energy (VNTR) stock stabilized in the last trading session with an unchanged price of $8.61. The stock recorded a trading volume of 3.29 million shares, which is below the average daily trading volume published for the last 50 days of 3.65 million shares.
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The shares of Vertex Energy (VNTR) have advanced 1.06% in the last five days; however, they have gained 30.06% over the last one month. The stock price has added 93.92% over the last three months and has gained 90.07 percent so far this year. Additionally, it has a price to cash flow ratio of 61.00 and its price to sales ratio stands at 4.53. VNTR stock is surging following an equity exchange agreement.
Which arrangement has VNTR gone into?
Houston-based Vertex Energy (VNTR) is a specialty purifier of elective feedstocks and advertiser of excellent refined items. Vertex is perhaps the biggest processor of involved engine oil in the U.S., with tasks situated in Houston and Port Arthur (TX), Marrero (LA) and Heartland (OH). Vertex Energy likewise co-claims an office, Myrtle Grove, situated on a 41-section of land modern complex along the Gulf Coast in Belle Chasse, LA, with existing hydro-handling and plant framework resources, which incorporate 9,000,000 gallons of capacity. VNTR has constructed a standing as a critical provider of Group II+ Base Oils to the ointment producing industry all through North America.
On March 24, 2022, Vertex Energy (VNTR) went into an Exchange Agreement (the “Trade Agreement”) with Tensile Capital Partners Master Fund LP.
- In accordance with the Exchange Agreement, Tensile Capital consented to trade remarkable warrants to buy 1,500,000 portions of VNTR normal stock.
- The Exchange Agreement was endorsed at an activity cost of $2.25 per share and a lapse date of July 25, 2029, for 1,112,728 portions of the Company’s normal stock.
- The Exchange Agreement successfully brought about a net credit-only activity of the warrants (which were dropped regarding the exchange), with the worth of such acquiescence shares in view of the multi-day following volume-weighted normal cost of Vertex Energy normal stock.
- The Exchange Agreement included standard portrayals and guarantees of the gatherings.
VNTR’s balance sheet:
Vertex Energy (VNTR) has total cash available of $36 million and restricted cash of $100 million as of December 31, 2021. As of December 31, 2021, total cash and liquidity include $13 million in funds restricted to the two special purpose entities (SPVs). As of December 31, 2021, VNTR has $140 million in total term or senior secured debt outstanding, net of OID.