{"schema_version":"secwatch.filing_event.v1","accession":"0000928054-23-000007","form_type":"8-K","ticker":"FTK","cik":"0000928054","company_name":"FLOTEK INDUSTRIES INC/CN/","filed_at":"2023-01-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.629185+00:00","generated_at":"2026-06-20T16:48:19.820692+00:00","sec_items":["1.01","2.03"],"event_type":"other_material","sentiment":"positive","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Flotek receives SBA forgiveness of $4.4M PPP loan; balance converted to term loan","bullets":["SBA forgave $4,400,376.69 in principal and $121,621.52 in interest on PPP loan.","Remaining $387,723.31 converted to an 18-month term loan at 1% interest.","Original PPP loan from PNC Bank dated April 2020; forgiveness effective Jan 10, 2023."],"urls":{"canonical":"https://secwatch.observer/filing/0000928054-23-000007","json":"https://secwatch.observer/filing/0000928054-23-000007.json","markdown":"https://secwatch.observer/filing/0000928054-23-000007.md","text":"https://secwatch.observer/filing/0000928054-23-000007.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/928054/000092805423000007/0000928054-23-000007-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/928054/000092805423000007/usgaap-20230110.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T16:48:19.820692+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"673de6dcd482a3420e4e3454a66fa988057a0d4a","claim":"FLOTEK INDUSTRIES INC/CN/ amended loan of $387,723.31 with PNC Bank, National Association at 1% per annum maturing 18 months.","evidence_excerpt":"The remaining outstanding principal amount of the loan of $387,723.31 has been converted to a term loan amortizing over 18 months and bearing interest at 1% per annum, payable in accordance with the terms of the Paycheck Protection Program Term Note","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/928054/000092805423000007/0000928054-23-000007-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$387,723.31"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Rate","value":"1% per annum"},{"label":"Maturity","value":"18 months"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"147c1d71c70f4bbb33ff28b67591e9ad8b3d88ab","claim":"FLOTEK INDUSTRIES INC/CN/ amended Paycheck Protection Program Term Note with PNC Bank, National Association valued at forgiven $4,400,376.69 in principal and $121,621.52 in interest (effective 2023-01-10).","evidence_excerpt":"On January 10, 2023, Flotek Industries, Inc. (the “Company”) received notification from PNC Bank, National Association (“PNC”) that the U.S. Small Business Administration had forgiven $4,400,376.69 in principal and $121,621.52 in interest of the Company’s Paycheck Protection Program Loan. The remaining outstanding principal amount of the loan of $387,723.31 has been converted to a term loan amortizing over 18 months and bearing interest at 1% per annum, payable in accordance with the terms of the Paycheck Protection Program Term Note, dated April 16, 2020, in favor of PNC Bank, National Association (the “PPP Note”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/928054/000092805423000007/0000928054-23-000007-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"PNC Bank, National Association"},{"label":"Value","value":"forgiven $4,400,376.69 in principal and $121,621.52 in interest"},{"label":"Effective","value":"2023-01-10"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}