Business Context and Reporting Period
Company: Flotek Industries, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: January 6, 2012
Event: Regulation FD Disclosure regarding the closure of a debt repurchase transaction.
Key Financial Metrics
This filing does not contain standard financial performance metrics such as revenue, profit, cash flow, margins, or liquidity ratios. The report focuses exclusively on a specific capital structure event.
- Debt Instrument: 5.25% Senior Secured Convertible Notes due in 2028.
- Action: Repurchase of the aforementioned notes.
- Announcement Date: December 28, 2011.
- Closure Date: January 6, 2012.
Material Changes
The material change reported is the successful completion of the repurchase of the Company's 5.25% Senior Secured Convertible Notes due in 2028. This transaction was originally announced on December 28, 2011, and formally closed on the date of this report.
Guidance, Outlook, and Risks
The filing does not provide updated financial guidance, management outlook, or specific risk factors beyond the disclosure of the debt transaction. The press release detailing the transaction is included as Exhibit 99.1 but is not deemed "filed" under the Securities Exchange Act of 1934 for incorporation by reference purposes, except as expressly set forth.
Investor Verification Checklist
- Verify the total principal amount of the 5.25% Senior Secured Convertible Notes repurchased by reviewing the attached Press Release (Exhibit 99.1).
- Confirm the specific financial terms and consideration paid for the repurchase.
- Assess the impact of this debt reduction on the Company's overall leverage and future interest expense obligations.
- Review the original announcement from December 28, 2011, to compare initial terms with the final executed agreement.