Flotek Industries Raises $16 Million via Private Placement

Flotek Industries, Inc. announced it has closed a private placement of convertible preferred stock, and warrants to purchase shares of common stock, for gross proceeds of around $16 million via private placement.

Flotek will receive net proceeds of around $15 million from the private placement offering. Flotek will use the net proceeds to reduce borrowings under its bank credit facility, thereby providing additional liquidity, and for general corporate purposes.

Flotek said that, giving pro forma effect to the completed private placement, its stockholders’ equity as of June 30 is greater than $50 million, so the company continues to be in compliance with the continued listing requirements of the New York Stock Exchange in New York.
http://www.tradingmarkets.com/.site/news/Stock%20News/2479411/

About PPM

PPM is the leading U.S. entrepreneurial firm that specializes in writing private placement memorandums (PPM) and linking investors with entrepreneurs.

Since 1999, the founders of PPM have provided professional business writing services, such as a PPM or business plan, to more than 2,000 businesses worldwide. Our company is considered to be the most cost effective, efficient consultants for private placement memorandum development in the United States. We are Wall Street’s, and by extension, the New York private placement (PPM) leaders.

PPM.co’s main service is the creation of private placement memorandum regulation d (Reg. d) documents. However, we offer much more. In case the entrepreneur needs additional services, such as a business plan, website, or additional legal work, PPM can create one pricing package for all required documentation or service. Because we simultaneously work with many companies both in and out of the U.S., the ability to adapt to the individual needs – as well as to regional and global demands – helps our clients save needed capital and time.

We are leaders in:

• New York Private Placement
• Real Estate Private Placement
• Technology Private Placement
• Debt Private Placement
• Equity Private Placement
• Technology Private Placement Memorandum Writing
• New York Private Placement Memorandum Writing
• Real estate Private Placement Memorandum Writing
• Debt Private Placement Memorandum Writing
• Equity Private Placement Memorandum Writing