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Vertex Energy Stock Plunged 19% Today: Is This an Opportunity?

·2 min read
Vertex Energy Stock Plunged 19% Today: Is This an Opportunity?
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On Monday, Vertex Energy announced plans to make a private offering worth $155 million in debt in the form of convertible senior notes due 2027. $33.7 million to fund its impending acquisition of Royal Dutch Shell's subsidiary's refinery in Mobile, Alabama. $13 million on a hydrocracking unit at the Mobile refinery to produce renewable diesel.