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.

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