Flotek Industries Secures $75 Million Term Loan, Extends ABL; Retires PWRTEK Note

Flotek Industries closed a new senior secured term loan, drawing $75 million at signing with access to up to $45 million in delayed draw capacity to support capex, working capital and general purposes. The financing, priced at Term SOFR (2.50% floor) plus 6.50% and maturing in 2031, refinanced the…