---
schema_version: "secwatch.filing_event.v1"
accession: "0000928054-23-000158"
form_type: "8-K"
ticker: "FTK"
cik: "0000928054"
company_name: "FLOTEK INDUSTRIES INC/CN/"
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T13:42:07.318744+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Flotek enters $10M ABL facility with Amerisource; CEO cites path to profitability

## Summary
- $10M revolving credit facility based on 85% eligible AR and 60% inventory; potential $5M add-on via real estate pledge.
- Interest at WSJ Prime + 2.5% p.a., 24-month term; includes 1% commitment fee, 0.25% non-usage fee, and 0.10% monthly collateral fee.
- Proceeds for working capital and general corporate purposes; early termination fee of 2.5% or 1.5% of account limit.
- CEO notes working capital improved from -$70M (year-end) to +$26M as of June 30, 2023.
- Expects positive adjusted EBITDA before year-end; eight consecutive quarters of improving operating cash flow.

## SEC filing metadata
- accession: 0000928054-23-000158
- form_type: 8-K
- ticker: FTK
- cik: 0000928054
- company_name: FLOTEK INDUSTRIES INC/CN/
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/928054/000092805423000158/0000928054-23-000158-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/928054/000092805423000158/usgaap-20230814.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000928054-23-000158
- JSON: https://secwatch.observer/filing/0000928054-23-000158.json
- Plain text: https://secwatch.observer/filing/0000928054-23-000158.txt

## Key facts
- Debt Financings
  FLOTEK INDUSTRIES INC/CN/ incurred revolving credit of up to $10 million of initial credit availability with Amerisource Funding, Inc. at Wall Street Journal Prime Rate (subject to a floor of 5.50%) plus 2.5% per annum maturing twenty-four month term.
  - Instrument: revolving credit
  - Principal: up to $10 million of initial credit availability
  - Counterparty: Amerisource Funding, Inc.
  - Rate: Wall Street Journal Prime Rate (subject to a floor of 5.50%) plus 2.5% per annum
  - Maturity: twenty-four month term
  - Event: incurrence
  source text: The Loan Agreement provides for a twenty-four month term with up to $10 million of initial credit availability (the “Account Limit”) based on 85% of eligible accounts receivable and 60% of eligible inventory (not to exceed the amount of eligible accounts receivable).
  evidence_url: https://www.sec.gov/Archives/edgar/data/928054/000092805423000158/0000928054-23-000158-index.htm
- Material Agreements
  FLOTEK INDUSTRIES INC/CN/ entered into Loan Agreement with Amerisource Funding, Inc. valued at up to $10 million of initial credit availability (effective 2023-08-14).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Amerisource Funding, Inc.
  - Value: up to $10 million of initial credit availability
  - Effective: 2023-08-14
  source text: On August 14, 2023, Flotek Industries, Inc. (the “Company”) entered into a revolving loan and security agreement (the “Loan Agreement”) with Flotek Chemistry, LLC and JP3 Measurement, LLC, wholly owned subsidiaries of the Company (collectively with the Company, the “Borrowers”), and Amerisource Funding, Inc. ( “Amerisource”), as lender.
  evidence_url: https://www.sec.gov/Archives/edgar/data/928054/000092805423000158/0000928054-23-000158-index.htm

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