Flotek to buy back all 5.25% senior secured convertibles due 2028

By Ashley Montgomery

Kansas City, Kan., Dec. 29 - Flotek Industries, Inc. has reached repurchase agreements with holders of all of its outstanding 5.25% senior secured convertible notes due 2028, according to an 8-K filed with the Securities & Exchange Commission.

The notes will be repurchased at 104.96 plus accrued interest to Jan. 5, the repurchase date.

According to a news release, the company intends to fund the repurchase with its cash balances.

About $36 million of indebtedness will be retired in the transaction, the release said.

Houston-based Flotek makes oilfield technologies such as specialty chemicals and down-hole drilling and production equipment.

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