XML 85 R75.htm IDEA: XBRL DOCUMENT v3.22.1
SUBSEQUENT EVENTS (Details) - USD ($)
Apr. 01, 2022
Feb. 17, 2022
First-Lien Senior Secured Term Loan Facility | Secured debt    
Subsequent Event [Line Items]    
Principal Amounts   $ 125,000,000
Subsequent Event    
Subsequent Event [Line Items]    
Warrants issued (in shares) $ 2,750,000  
Increase (decrease) in unrestricted cash $ 75,000,000  
Expected term (years) 5 years  
Exercise price (in dollars per share) $ 4.50  
Exercise of options to purchase common stock (in shares) 37,500  
Common stock purchased upon exercise of options (in shares) 37,500  
Subsequent Event | Capital Addition Purchase Commitments    
Subsequent Event [Line Items]    
Amount payable after closing $ 8,700,000  
Capital project $ 85,000,000  
Subsequent Event | MG SPV    
Subsequent Event [Line Items]    
Ownership percentage (as a percent) 100.00%  
Subsequent Event | Vertex Refining    
Subsequent Event [Line Items]    
Capital stock ownership percentage 100.00%  
Change in ownership percentage 50.00%  
Subsequent Event | Vertex Refining | Shell    
Subsequent Event [Line Items]    
Initial term of crude supply agreement 5 years  
Renewal term of crude supply agreement 1 year  
Subsequent Event | Vertex Refining | Macquarie    
Subsequent Event [Line Items]    
Period after commencement date 180 days  
Conversion project period 90 days  
Termination date period 90 days  
Customary covenant period 24 months  
Termination period after notice 180 days  
Subsequent Event | Vertex Refining | Shell    
Subsequent Event [Line Items]    
Initial term of offtake agreement 5 years  
Renewal term of offtake agreement 1 year  
Term of required purchases and sales 3 years  
Subsequent Event | Vertex Refining | Mobile Refinery    
Subsequent Event [Line Items]    
Total purchase price $ 75,000,000  
Amount previously paid in consideration for acquisition 10,000,000  
Certain capital expenditures reimbursed 440,000  
Amount paid in acquisition 15,900,000  
Subsequent Event | Vertex Refining | Mobile Refinery | Shell    
Subsequent Event [Line Items]    
Amount paid in acquisition 164,200,000  
Inventory acquired $ 154,000,000  
Subsequent Event | Vertex Splitter | MG SPV    
Subsequent Event [Line Items]    
Ownership percentage (as a percent) 15.00%  
Acquisition of noncontrolling interest $ 7,200,000  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt    
Subsequent Event [Line Items]    
Principal Amounts 125,000,000  
Aggregate amount released from escrow $ 94,309,958  
Original discount percentage 1.50%  
Required payments to principal $ 1,562,500  
Required payments to principal, percent of original principal 1.25%  
Change of control, period 12 months  
Required minimum unrestricted cash $ 17,500,000  
Required minimum unrestricted cash, period 3 days  
Right to accelerate, minimum default amount $ 3,000,000  
Cross default to indebtedness amount 20,000,000  
Final judgement rendered amount $ 20,000,000  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt | Debt Instrument, Redemption, Period One    
Subsequent Event [Line Items]    
Additional amount after closing, period 18 months  
Prepayment additional amount, percentage 150.00%  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt | Debt Instrument, Redemption, Period Two    
Subsequent Event [Line Items]    
Prepayment additional amount, percentage 50.00%  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt | Debt Instrument, Redemption, Period Three    
Subsequent Event [Line Items]    
Additional amount after closing, period 90 days  
Prepayment additional amount, percentage 25.00%  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt | Debt Instrument, Redemption, Period Four    
Subsequent Event [Line Items]    
Prepayment additional amount, percentage 1.00%  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt | Minimum    
Subsequent Event [Line Items]    
Prepayment premium, ownership percentage 33.00%  
Specified indebtedness limit $ 10,000,000  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt | Maximum    
Subsequent Event [Line Items]    
Prepayment premium, ownership percentage 100.00%  
Change of control, amount of other indebtedness $ 2,000,000  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt | Prime Rate    
Subsequent Event [Line Items]    
Variable interest rate (percentage) 1.50%  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt | Federal Funds Rate    
Subsequent Event [Line Items]    
Variable interest rate (percentage) 0.50%  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt | Federal Funds Rate | Minimum    
Subsequent Event [Line Items]    
Variable interest rate (percentage) 1.00%  
Subsequent Event | First-Lien Senior Secured Term Loan Facility | Vertex Refining | Secured debt | Federal Funds Rate | Maximum    
Subsequent Event [Line Items]    
Variable interest rate (percentage) 9.25%  
Subsequent Event | Convertible Senior Notes | Senior Notes    
Subsequent Event [Line Items]    
Principal Amounts $ 100,400,000  
Funds previously held in escrow $ 155,000,000