Form 10-Q FLOTEK INDUSTRIES INC/CN For: Jun 30
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Flotek Industries (FTK) Enters 2.46M Common Stock Private Placement at $12.52/Share
July 27, 2016 7:20 AM EDTFlotek Industries, Inc. (NYSE: FTK) announced that it has entered into definitive subscription agreements with accredited investors with respect to the private placement of shares of common stock for gross proceeds of approximately $30 million.
Private Placement
Flotek has entered into subscription... More
Flotek Industries (FTK) to Acquire Polymerics in Cash, Stock Deal
July 27, 2016 7:13 AM EDTFlotek Industries, Inc. (NYSE: FTK) announced its intent to acquire International Polymerics, Inc. ("IPI"), and affiliates, for consideration consisting of cash and Flotek common stock. The acquisition will be treated as an asset purchase for income taxation purposes. Included in the assets will be approximately $1.2 million in working capital.
Flotek will pay approximately $7.9 million in cash and issue approximately 248,000 shares of common stock as consideration for the acquisition.
Founded in 2004, IPI is based in Dalton, Georgia with a distribution center in Monahans, Texas and is one of the largest domestic... More
