Flotek Secures $120 Million Senior Secured Term Loan to Support Continued Strategic Growth

Flotek Industries (FTK) announced a new senior secured term loan agreement providing up to $120 million in capital. Initial funding of $75 million closed, with $15 million in committed delayed-draw availability through June 2027 and an additional $30 million subject to lender consent through March 2028. The seven-year loan matures September 2031 with no amortization or cash sweep in the first two years. Proceeds will support data analytics capex, refinance the existing $40 million term loan, and fund working capital. Elda River Capital Management is lead lender. The existing ABL facility is extended to October 2027.