HomeMarket NewsMicro Cap Stocks Vertex Energy's Shares Dwindle After Amendment to Loan Agreement

Vertex Energy’s Shares Dwindle After Amendment to Loan Agreement

Actionable Trade Ideas

always free


Vertex Energy Inc VTNR shares are trading lower by 11.8% to $2.99 Tuesday morning after the company announced an amendment to its term loan agreement, securing an additional $50 million in borrowing capacity, totaling $198 million.

The move aims to bolster the company’s financial standing while pursuing strategic evaluations and exploring options to strengthen its balance sheet. The modified terms include an adjusted interest rate and maintain the loan’s duration until April 1, 2025.

CEO Benjamin P. Cowart emphasized the amendment as a reinforcement of liquidity and added that it provides flexibility to pursue potential business transactions, aligning with long-term shareholder interests and the company’s goals.

See Also: Bitcoin’s $45K Feat Lifts Crypto Plays Pre-Market

According to data from Benzinga Pro, VTNR has a 52-week high of $11.20 and a 52-week low of $2.90.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.