financetom
Forex World Market Business Cryptocurrency Commodities MAP
financetom
Business
financetom
/
Business
/
Vertex Energy Plunges Premarket Following Chapter 11 Filing in Texas District Court
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Vertex Energy Plunges Premarket Following Chapter 11 Filing in Texas District Court
Oct 3, 2024 1:12 AM

06:30 AM EDT, 09/25/2024 (MT Newswires) -- Vertex Energy's ( VTNR ) shares were down over 55% in premarket activity Wednesday after the company said overnight that it commenced Chapter 11 "cases" in the US Bankruptcy Court for the Southern District of Texas.

The company said late Tuesday that the move is designed to facilitate its restructuring agreement with "overwhelming support" from 100% of its term loan lenders."

The restructuring includes exploring a sale of the company, which disclosed $80 million in new debtor-in-possession financing for its day-to-day business operations.

Vertex anticipates confirming the Chapter 11 plan by the end of the year.

Price: 0.1610, Change: -0.20, Percent Change: -55.40

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Odd Burger Posts Fiscal Q1 Loss
Odd Burger Posts Fiscal Q1 Loss
Feb 28, 2025
08:29 AM EST, 02/28/2025 (MT Newswires) -- Odd Burger ( ODDAF ) reported Friday a net and comprehensive loss in its fiscal first quarter ended Dec. 31, 2024. The company's net and comprehensive loss came in at $272,476, or $0.003 per share, compared with a loss of $275,808, or $0.003 per share, recorded in the previous year. Revenue fell slightly...
 Advantage Energy Forms Special Committee to Assess Strategic Opportunities
Advantage Energy Forms Special Committee to Assess Strategic Opportunities
Feb 28, 2025
08:26 AM EST, 02/28/2025 (MT Newswires) -- Advantage Energy ( AAVVF ) on Friday said it formed a special committee of its board to review strategic opportunities, while offering little detail on the group's role. The Western Canadian natural-gas producer said the committee is made up of independent directors who will review strategic opportunities that are in the best interests...
 RBC Sees Fiscal Room for Canada to Respond to U.S. Trade Tariffs
RBC Sees Fiscal Room for Canada to Respond to U.S. Trade Tariffs
Feb 28, 2025
08:25 AM EST, 02/28/2025 (MT Newswires) -- While Canada's response to United States trade tariffs could be multi-pronged, fiscal policy is under-appreciated and might be the ace in the hole, said RBC. Whether or not there are retaliatory measures, fiscal and monetary policymakers should err on the side of patience, noted the bank. The impact of tariffs won'tt be immediate....
 Ameren Prices $750 Million Senior Notes Due 2035
Ameren Prices $750 Million Senior Notes Due 2035
Feb 28, 2025
08:26 AM EST, 02/28/2025 (MT Newswires) -- Ameren ( AEE ) said late Thursday it priced a public offering of $750 million total principal amount of 5.375% senior notes due 2035 at 99.8% of their principal amount. The company said it intends to close the transaction on March 7 and plans to use the net proceeds to repay a part...
About
Terms and Conditions Privacy policy Cookie Settings Contact Us
Services
Login register
financetom Market Personal Finance Business Economy Cryptocurrency MAP
Links
zpostcode Recruit weather mreligion Yellowpages sport constellation shopping name game directory literature Word tour furnish Lottery tftnews lyrics News digital car dir Edu Finance
Copyright 2023-2026 - www.financetom.com All Rights Reserved