The transaction is sourced from an 8-K filing with the SEC, filed via SEC EDGAR and published on January 22, 2025. The deal's current status is pending regulatory approval.
On the financial advisory side, Perella Weinberg Partners served as investment banker to the company (Vertex Energy), with no lead designation specified, alongside Alvarez & Marsal North America, LLC, who served as Chief Restructuring Officer and financial advisor to the company per the same source sentence (though only Perella Weinberg Partners is broken out as a separate structured financial advisor entry). Houlihan Lokey served as financial advisor to an ad hoc group of term loan lenders, categorized as creditors, also without a specified lead designation.
On the legal side, Kirkland & Ellis LLP served as restructuring counsel to the company (target), and Bracewell LLP served as restructuring co-counsel to the company, per the same source sentence. Sidley Austin LLP served as legal counsel to the ad hoc group of term loan lenders (creditors).
Beyond the Chapter 11 reorganization and debt-for-equity exchange structure, with a disclosed value of $320,000,000, no further detail on the specific equity allocation or treatment of other creditor classes is provided in the facts block.
Several items are not disclosed in the available record. While the source sentence references Alvarez & Marsal North America, LLC serving as Chief Restructuring Officer and financial advisor to the company, it is not broken out as a separate structured financial advisor entry beyond Perella Weinberg Partners. No lead designation is specified for any of the named financial advisors, and no expected closing date or further timeline detail beyond the January 2025 filing date and pending-regulatory status is given.