New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 28, 2012
07:04 EDTFTKFlotek announces $75M expanded credit facility
Flotek Industries announced that it has entered into an Amendment to its current credit facility with PNC Bank that, among other terms, expands the size and extends the term of the facility, providing capital to refinance its outstanding convertible notes and reduce the cost of its current borrowings. In total, the revised facility will provide Flotek with $75M in borrowing capacity. The terms of the amended credit facility provide Flotek with access to a $50M revolving credit facility, an increase from the current revolving credit facility of $35M. In addition, PNC has extended Flotek a $25M term loan which, combined with current cash on hand, will be used to refinance the company's existing convertible notes between now and mid-February at which time Flotek plans to redeem the remaining outstanding convertible notes. Both the revolver and term loan mature on December 26, 2017. Interest on the new facility will vary - based on the level of borrowings - between PNC's base lending rate plus 0.50-1.50% or the London Interbank Overnight Rate, or LIBOR, plus 1.50-2.50%, a substantial reduction from the 5.25% interest rate paid on the outstanding convertible notes.
News For FTK From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 5, 2015
07:17 EDTFTKIndependent Petroleum Association of America to hold a conference
IPAA--OGIS is being held in San Francisco on October 5-6.
07:02 EDTFTKFlotek announces technical partnership with Ely & Associates
Flotek announced a technical partnership with Ely & Associates, an international stimulation and completion consulting firm, under which Flotek and Ely will provide Flotek CnF completion chemistry clients a suite of stimulation and completion consulting services to further extend Flotek's reach as the leading North American completion chemistry and consulting services concern. Through the partnership, Flotek will package Ely's world-class reservoir stimulation and completion consulting services with the Company's CnF customized completion chemistries for those clients that purchase CnF(R) chemistries directly through The Flotek Store.
September 28, 2015
12:30 EDTFTKFlotek sees Q3 Chemistry revenue up about 10% sequentially
Information from investor slides presentation.
07:25 EDTFTKJohnson Rice to hold a conference
2015 Johnson Rice Energy Conference is being held in New Orleans, Louisiana on September 28-30.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use