FLOTEK INDUSTRIES INC/CN/ (FTK): debt financing — Flotek acquires mobile power generation assets for $105M; secures 6-year lease with $160M backlog

FLOTEK INDUSTRIES INC/CN/

Acquires digitally enhanced gas conditioning & distribution units from ProFrac GDM for $105M.
$17.6M paid via OSP offset; $40M secured note at 10% interest; warrant for 6M shares valued at $40.2M.
Lease agreement expected to deliver ~$14M rental revenue in 2025 and $27.4M annually from 2026.
Deal provides entry into mobile power generation; Flotek's Data Analytics segment revenue to increase 60%.
Special stockholder meeting expected July 2025 to approve warrant conversion; voting agreements in place.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

FLOTEK INDUSTRIES INC/CN/ incurred senior notes of initial principal amount of $40 million with ProFrac GDM, LLC at 10.0% annual interest rate maturing five-year term.

Instrument: senior notes
Principal: initial principal amount of $40 million
Counterparty: ProFrac GDM, LLC
Rate: 10.0% annual interest rate
Maturity: five-year term
Event: incurrence

Exact text from the filing

limited liability company (“PWRTEK”) and a subsidiary of Flotek Industries, Inc., a Delaware corporation (the “Company”) entered into a series of transactions pursuant to an Asset Purchase Agreement, dated as of April 28, 2025 (the “Purchase Agreement”), with ProFrac GDM, LLC (“ProFrac GDM”), a Texas limited liability company, and a wholly-owned subsidiary of ProFrac Holding Corp., a Delaware corporation (“ProFrac”), and various subsidiaries of ProFrac, pursuant to which, among other things, PWRTEK acquired from ProFrac GDM certain mobile power generation assets and related intellectual property, which were concurrently leased back to ProFrac GDM pursuant to an Agreement for Equipment Rental, dated as of April 28, 2025, by and between PWRTEK and ProFrac GDM (the “Lease Agreement”).

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Source: SEC EDGAR

accession 0001193125-25-100512

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