Flotek Industries Inc. entered into definitive subscription agreements with investors concerning the private placement of common shares for about $30 million in gross proceeds, the company said July 27, which is the private placement’s targeted closing and funding date.
Flotek is offering about 2.45 million common shares priced at $12.52 each.
The proceeds will fund Flotek’s acquisition of International Polymerics Inc. and will also repay debt under the secured credit facility and support general corporate purposes.
Flotek Industries Inc. is based in Houston.
Recommended Reading
Green Swan Seeks US Financing for Global Decarbonization Projects
2024-02-21 - Green Swan, an investment platform seeking to provide capital to countries signed on to the Paris Agreement, is courting U.S. investors to fund decarbonization projects in countries including Iran and Venezuela, its executives told Hart Energy.
Matador Stock Offering to Pay for New Permian A&D—Analyst
2024-03-26 - Matador Resources is offering more than 5 million shares of stock for proceeds of $347 million to pay for newly disclosed transactions in Texas and New Mexico.
First Solar’s 14 GW of Operational Capacity to Support 30,000 Jobs by 2026
2024-02-26 - First Solar commissioned a study to analyze the economic impact of its vertically integrated solar manufacturing value chain.
TechnipFMC Eyes $30B in Subsea Orders by 2025
2024-02-23 - TechnipFMC is capitalizing on an industry shift in spending to offshore projects from land projects.
SunPower Begins Search for New CEO
2024-02-27 - Former CEO Peter Faricy departed SunPower Corp. on Feb. 26, according to the company.