November 17th, 2021
We would buy shares
up to $6.15 since
shares have already
traded as high as
Recent Updates Include:
- 11/09/2021 Third Quarter Earnings Announcement
EBIDA $1.5M vs – $.5m
Sales $29m vs $16m
Closed on $155m convertible bond. Exercise Price $6.25 7 yrs
Mobile Refinery Purchase Update:
A definitive agreement to purchase a refinery in Mobile, Alabama from Shell is closing.
Net $155m proceeds from the convertible bonds and working capital facility are expected to fully fund the purchase of the Mobile refinery capital required and to also support the initial development of its planned renewable diesel fuel conversion project.
About Vertex Energy:
Houston-based Vertex Energy, Inc. (NASDAQ:VTNR) is a specialty refiner of alternative feedstocks and marketer of high-purity refined products. Vertex is one of the largest processors of used motor oil in the U.S., with operations located in Houston and Port Arthur (TX), Marrero (LA) and Heartland (OH). Vertex also co-owns a facility, Myrtle Grove, located on a 41-acre industrial complex along the Gulf Coast in Belle Chasse, LA, with existing hydro-processing and plant infrastructure assets, that include nine million gallons of storage. The Company has built a reputation as a key supplier of Group II+ and Group III Base Oils to the lubricant manufacturing industry throughout North America.
Further details on our 04/01/2021 $1.55 recommendation.