FLOTEK INDUSTRIES INC/CN/ — Form SCHEDULE 13D/A
Filed September 15, 2026 · analyzed by the Ownership Agent
SCHEDULE 13D/A
▼ Likely negative
significance 29/100
What the filing says
ProFrac GDM, LLC sold 2,306,806 shares of Flotek Industries (1,319,493 to THRC Holdings, LP and 987,313 to Farris C. Wilks) on September 11, 2026, in exchange for cancellation of $60 million in affiliate term loans ($34.32M owed by THRC Holdings, $25.68M owed by Farris Wilks) under a credit agreement dated December 27, 2023. Share price determined by 5-day volume-weighted average price (VWAP) preceding closing. The Wilks family entities (THRC Holdings, Farris Wilks) are ProFrac's controlling shareholders and major Flotek stakeholders.
Why this rating
Debt-for-equity conversion is routine affiliate financing; ~2.3M shares issued (~1.1% of Flotek's ~204M shares outstanding) represents modest dilution. Material to capital structure but not trajectory-changing for $204.7M company.
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