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Stock Market & Financial Investment News

News Breaks
February 6, 2013
07:07 EDTFTKFlotek announces termination of share lending agreement with JP Morgan
Flotek announced that it has terminated the Share Lending Agreement between the company and J.P. Morgan Markets Limited. The Agreement, entered into in February, 2008, was entered into in conjunction with the offering of $115M in Convertible Notes by the company. As a result, J.P. Morgan has returned an additional 2,439,558 shares of common stock to the Flotek treasury which have been removed from the public float. In total, since the company began reducing the amount of convertible notes outstanding in 2010, J.P. Morgan has returned all 3.8M shares lent under the Agreement.
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