secwatch.observer — SEC 8-K summary
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Issuer:     FLOTEK INDUSTRIES INC/CN/ (FTK)
CIK:        0000928054
Form:       8-K
Filed at:   2023-10-06T23:59:59+00:00
Accession:  0000928054-23-000192
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flotek increases credit facility to $13.8M and regains NYSE minimum share price compliance
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- Revolving credit facility maximum increased from $10M to $13.8125M under First Amendment.
- Real estate pledged as collateral; 50% of appraised value available as sub-limit.
- Collateral management fee changed to 0.1% monthly on facility maximum (was average daily balance).
- NYSE notified company it regained compliance with $1.00 minimum share price over 30 trading days.
- If share price falls below $1 again, NYSE may immediately initiate suspension and delisting procedures.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/928054/000092805423000192/0000928054-23-000192-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/928054/000092805423000192/usgaap-20231005.htm
  HTML page:      https://secwatch.observer/filing/0000928054-23-000192

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