Vertex Energy, Inc. (NASDAQ: VTNR), an environmental services company that recycles industrial waste streams and off-specification commercial chemical products, announced today its intention to offer, subject to market and other conditions, shares of its common stock in an underwritten public offering. The Company currently estimates the size of the offering at $8.0 million, with an estimated additional $1.2 million subject to the underwriters’ over-allotment option described below. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering to cover over-allotments, if any. The Company intends to use the net proceeds from the offering for general corporate purposes, including potential acquisitions. The final terms of the offering will depend on market and other conditions at the time of pricing, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Craig-Hallum Capital Group LLC is acting as sole book-running manager for the offering.
Vertex Energy intends to offer and sell these securities pursuant to its existing shelf registration statement (File No. 333-189107) filed with the Securities and Exchange Commission on June 5, 2013, as amended. A prospectus supplement describing the terms of the offering will be filed with the Securities and Exchange Commission and will form a part of the effective registration statement. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, by contacting the below book-running manager at the following address:
Craig-Hallum Capital Group LLC222 South Ninth Street, Suite 350Minneapolis, MN 55402Telephone: 612-334-6342Email: email@example.comThis press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of Vertex, and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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