Closed transaction with ProFrac: amended Chemical Supply Agreement to 10-year term, minimum purchase = greater of 70% of requirements or chemicals for 30 fleets.
Issued $50M principal of 10% Convertible PIK Notes to ProFrac Holdings as part of closing.
CFO Michael Borton departed (without cause); Seham Carson appointed Interim CFO (base salary $240k, 100k RSUs vesting over 3 years).
Registration Rights Agreement with ProFrac for resale of common stock acquired.
Seham S. Carson, the Company’s Corporate Controller, will serve as the Company’s Interim Chief Financial Officer, principal financial officer and principal accounting officer effective May 17, 2022.
On May 17, 2022, Michael E. Borton, the Chief Financial Officer of the Company, departed the Company.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Seham S. Carson was appointed as Interim Chief Financial Officer at FLOTEK INDUSTRIES INC/CN/.
Action
appointed
Role
Interim Chief Financial Officer
Exact text from the filing
Seham S. Carson, the Company’s Corporate Controller, will serve as the Company’s Interim Chief Financial Officer, principal financial officer and principal accounting officer effective May 17, 2022.
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.