Vertex Energy (VTNR) just unveiled an announcement.
Vertex Energy, Inc. and its subsidiaries secured a financial amendment allowing a new $20 million term loan and consent for reduced liquidity requirements, reflecting a strategic move to bolster their financial stability. The amendment also requires the appointment of Seth Bullock as Chief Restructuring Officer, tapping into his extensive experience in turnarounds and restructuring within the oil and gas sector. This appointment aims to guide the company through its financial reorganization, highlighting a proactive approach to corporate governance and financial management.
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