Porter Hedges Represents Flotek in $120 Million Secured Term Loan

Porter Hedges represented Flotek Industries, Inc. ("Flotek") (NYSE: FTK) in connection with its new secured term loan agreement providing $75 million in funding at closing and up to $45 million of delayed-draw availability. Elda River Capital Management, LLC is the lead lender under the financing, with additional investors including an affiliate of Antarctica Capital. With up to $120 million in capital, the term loan provides the Company with enhanced liquidity and financial flexibility to support strategic initiatives and future growth opportunities.

Headquartered in Houston, Texas, Flotek is a leading chemistry and data technology company focused on serving the energy industry. The Company has an intellectual property portfolio of over 130 patents, over 20 years of field and laboratory data, and a global presence in more than 59 countries.

For additional information, please see the Flotek press release here.