0001580695-16-000438.txt : 20160517
0001580695-16-000438.hdr.sgml : 20160517
20160517202006
ACCESSION NUMBER: 0001580695-16-000438
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20160513
FILED AS OF DATE: 20160517
DATE AS OF CHANGE: 20160517
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Vertex Energy Inc.
CENTRAL INDEX KEY: 0000890447
STANDARD INDUSTRIAL CLASSIFICATION: PETROLEUM REFINING [2911]
IRS NUMBER: 943439569
STATE OF INCORPORATION: NV
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1331 GEMINI STREET
STREET 2: SUITE 250
CITY: HOUSTON
STATE: TX
ZIP: 77058
BUSINESS PHONE: 866-660-8156
MAIL ADDRESS:
STREET 1: 1331 GEMINI STREET
STREET 2: SUITE 250
CITY: HOUSTON
STATE: TX
ZIP: 77058
FORMER COMPANY:
FORMER CONFORMED NAME: WORLD WASTE TECHNOLOGIES INC
DATE OF NAME CHANGE: 20040830
FORMER COMPANY:
FORMER CONFORMED NAME: VOICE POWERED TECHNOLOGY INTERNATIONAL INC
DATE OF NAME CHANGE: 19940831
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Carlson Chris
CENTRAL INDEX KEY: 0001457633
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-11476
FILM NUMBER: 161659155
MAIL ADDRESS:
STREET 1: 4418 CEDAR RIDGE TRAIL
CITY: HOUSTON
STATE: TX
ZIP: 77059
4
1
carlson-form4_051316.xml
OWNERSHIP DOCUMENT
X0306
4
2016-05-13
0
0000890447
Vertex Energy Inc.
VTNR
0001457633
Carlson Chris
1331 GEMINI STREET
SUITE 250
HOUSTON
TX
77058
0
1
0
0
CFO & Secretary
Common Stock
772335
D
Series B1 Preferred Stock
1.56
2016-05-13
4
P
0
32052
A
2016-05-13
Common Stock
32052
32052
D
Common Stock Purchase Warrants
1.53
2016-05-13
4
P
0
8013
A
2021-11-14
2021-11-13
Common Stock
8013
19743
D
The Series B1 Preferred Stock (including accrued and unpaid dividends) is convertible into shares of the Issuer's common stock at the holder's option at any time at the Unit Price (see Note 3, initially a one-for-one basis). If the Issuer's common stock trades at or above $3.90 per share (250% of the Unit Price) for a period of 20 consecutive trading days at any time following the earlier of (a) the effective date of a resale registration statement the Issuer is required to file to register the underlying shares of common stock, or (b) November 13, 2016, the Issuer may at such time force conversion of the Series B1 Preferred Stock (including accrued and unpaid dividends) into common stock of the Issuer.
The Series B1 Preferred Stock has no expiration date; however, the Issuer has the option to redeem the Series B1 Preferred Stock at 110% of the Unit Price (defined in Note 3) plus any accrued and unpaid dividends on such Series B1 Preferred Stock redeemed, at any time beginning on June 20, 2017 and the Issuer is required to redeem the Series B1 Preferred Stock at the Unit Price plus any accrued and unpaid dividends on June 24, 2020. Notwithstanding either of the foregoing, the Series B1 Preferred Stock may not be redeemed unless and until amounts outstanding under the Issuer's senior credit facility have been paid in full.
On May 13, 2016, Mr. Carlson, purchased 32,052 units as an investor named in the May 10, 2016 Unit Purchase Agreement entered into with the Issuer, with each unit (the "Unit"), consisting of (i) one share of Series B1 Preferred Stock and (ii) one warrant to purchase one-quarter of a share of common stock of the Company. The Units were sold at a price of $1.56 per Unit (the "Unit Price") or $50,000 in aggregate. The terms of the Series B1 Preferred Stock are described in greater detail in the Current Report filed by the Issuer on May 13, 2016.
/s/ Chris Carlson
2016-05-17