Flotek Industries Announces $29.5 Million Common Stock Private Placement and $4.5 Million Debt Exchange

Flotek Industries, Inc. FTK today 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 $29.5 million. Flotek also announced that it has entered into exchange agreements to issue an aggregate of 559,007 shares of common stock in exchange for $4.5 million in aggregate principal amount of its 5.25% Convertible Senior Notes due 2028.