Flotek Industries (FTK) says it's entered into transactions to repurchase approximately $50M of...

|About: Flotek Industries, Inc. (FTK)|By:, SA News Editor

Flotek Industries (FTK) says it's entered into transactions to repurchase approximately $50M of it's outstanding convertible notes from institutional holders. The privately negotiated transactions were negotiated at an average of approximately 100.59% of par value plus accrued interest. The company will fund the repurchase with cash on hand and through its $75M credit facility with PNC bank.