Business Context and Reporting Period
Company: Flotek Industries, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: July 21, 2015
Event: Entry into a Material Definitive Agreement (Fourth Amendment to Credit Agreement).
Key Financial Metrics
This filing does not report specific financial performance metrics such as revenue, profit, cash flow, margins, or total debt levels. The document focuses exclusively on the amendment of the company's credit facility terms.
Material Changes
- Credit Agreement Amendment: On July 21, 2015, the Company and its affiliates entered into the Fourth Amendment to the Amended and Restated Revolving Credit, Term Loan and Security Agreement with PNC Bank, National Association.
- Revised Definitions: The Amendment revised certain definitions related to the Company's required financial metrics.
- Costs: The Company agreed to pay a fee and expenses to the agent in connection with the Amendment.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or specific risk factors beyond the standard disclosure regarding the amendment of the credit agreement. The description of the changes is qualified by reference to the full text of the Amendment filed as Exhibit 10.1.
Investor Verification Checklist
- Review Exhibit 10.1 (Fourth Amendment) to understand the specific revisions to financial metric definitions.
- Verify the impact of the revised financial metrics on the Company's compliance with covenants.
- Confirm the amount of fees and expenses paid to the agent in connection with the Amendment.