Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Item 1.01 Entry into a Material Definitive Agreement 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.…
Flotek Industries, Inc. is a leading chemistry and data technology company focused on servicing the Energy industry. The Company’s technologies leverage near real-time data to deliver innovative solutions to maximize customer returns. Flotek has an intellectual property portfolio of over 130 patents, over 20 years of field and laboratory data, and a global presence in more than 59 countries. Flotek has established collaborative partnerships focused on sustainable and optimized chemistry and data solutions, aiming to reduce the environmental impact of energy on land, air, water and people.
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Item 1.01Item 1.01 - Entry into Material Agreement
Item 1.01 Entry into a Material Definitive Agreement
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. The Loan Agreement was subsequently amended effective October 5, 2023 by that certain First Amendment to the Loan Agreement (the “First Amendment”) and amended effective August 5, 2024, by that certain Second Amendment to the Loan Agreement (the “Second Amendment”). Effective July 15, 2026, the Company entered into that certain Third Amendment to the Loan Agreement (the "Third Amendment").
The Third Amendment amends the Loan Agreement to extend the maturity date of the loan to October 31, 2026 (the “Maturity Date”). In addition, the Third Amendment provides the Borrowers with the option, upon at least thirty (30) days’ written notice prior to the Maturity Date, to either (a) extend the term of the Loan Agreement for an additional twelve (12) months from the Maturity Date or (b) terminate the Loan Agreement effective as of the Maturity Date. The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of the Third Amendment, which is filed herewith as Exhibit 10.1 and incorporated by reference herein.
Item 2.03Item 2.03 - Creation of Direct Financial Obligation
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information provided under Item 1.01 of this Current Report on Form 8-K regarding each of the transactions described therein is also responsive to Item 2.03 of this Current Report on Form 8-K and is hereby incorporated by reference into this Item 2.03.