Business Context and Reporting Period
Company: Flotek Industries, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: April 4, 2022
Reporting Period: Event date of April 4, 2022
This filing serves as a Regulation FD disclosure regarding the Company's compliance status with the New York Stock Exchange (NYSE) listing standards.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on regulatory compliance status rather than financial performance data.
Material Changes
NYSE Listing Status: On April 4, 2022, the Company received written confirmation from the NYSE that it is no longer considered beneath the $1 minimum share price listing criterion. This resolves a previous deficiency regarding the minimum bid price requirement.
Guidance, Outlook, and Risks
Management Commentary: The filing incorporates a press release (Exhibit 99.1) confirming the restoration of compliance with the NYSE minimum share price rule.
Risks and Contingencies: No new risks or contingencies are disclosed in this specific filing. The primary risk addressed was the potential delisting due to share price, which has been mitigated by the NYSE confirmation.
Investor Verification Checklist
- Verify the current trading price of FTK on the NYSE to ensure continued compliance with the $1 minimum bid price rule.
- Review the full text of the press release (Exhibit 99.1) for any additional context regarding the Company's capital structure or market conditions.
- Monitor subsequent filings for any further communications from the NYSE regarding listing standards.