---
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"
generated_at: "2026-06-20T16:48:19.820692+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Flotek receives SBA forgiveness of $4.4M PPP loan; balance converted to term loan

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: positive
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000928054-23-000007
- JSON: https://secwatch.observer/filing/0000928054-23-000007.json
- Plain text: https://secwatch.observer/filing/0000928054-23-000007.txt

## Key facts
- Debt Financings
  FLOTEK INDUSTRIES INC/CN/ amended loan of $387,723.31 with PNC Bank, National Association at 1% per annum maturing 18 months.
  - Instrument: loan
  - Principal: $387,723.31
  - Counterparty: PNC Bank, National Association
  - Rate: 1% per annum
  - Maturity: 18 months
  - Event: amendment
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/928054/000092805423000007/0000928054-23-000007-index.htm
- Material Agreements
  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).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association
  - Value: forgiven $4,400,376.69 in principal and $121,621.52 in interest
  - Effective: 2023-01-10
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/928054/000092805423000007/0000928054-23-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.