Vertex Energy, Inc. announced that it has entered into Material Definitive Agreement with U.S. Bank National Association for a placement of 6.25% Convertible Senior Notes due 2027 for the gross proceeds of $155 million on November 1, 2021. The Notes will bear interest at a rate of 6.25% per year, payable semiannually in arrears on April 1 and October 1 of each year, beginning on April 1, 2022. The Notes will be convertible at an initial conversion rate of 169.9235 shares of Vertex Energy?s common stock, per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $5.89 per share, which represents a conversion premium of approximately 37.5% to the last reported sale price of $4.28 per share of Vertex Energy?s common stock on The Nasdaq Capital Market on October 26, 2021). The Notes will mature on October 1, 2027, unless earlier repurchased, redeemed or converted. Prior to July 1, 2027, the Notes will be convertible at the option of the holders of the Notes only upon the satisfaction of certain conditions and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The company will pay $21.1 million placement agent fees and estimated offering costs and expenses payable.