Flotek Industries, Inc., a leader in technology-driven specialty green chemistry solutions, announced that Flotek’s shareholders overwhelmingly approved the previously-announced agreement with ProFrac Holdings, LLC (“ProFrac”) to expand the existing long-term supply agreement with one of ProFrac’s affiliates.
The results from yesterday’s meeting indicate that approximately 98.5% of the votes cast by Flotek common stock voted in favor of the proposal to approve the transactions contemplated by the agreement with ProFrac. The full results of the vote are available in a Current Report on Form 8-K filed with Securities & Exchange Commission on May 9, 2022.
The transactions are expected to close expeditiously, subject to usual and customary closing conditions.
Flotek Industries, Inc. creates solutions to reduce the environmental impact of energy on air, water, land and people. A technology-driven, specialty green chemistry and data company, Flotek helps customers across industrial, commercial, and consumer markets improve their Environmental, Social, and Governance performance. Flotek’s Chemistry Technologies segment develops, manufactures, packages, distributes, delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use. Additionally, Flotek empowers the energy industry to maximize the value of their hydrocarbon streams and improve return on invested capital through its real-time data platforms and green chemistry technologies. Flotek serves downstream, midstream, and upstream customers, both domestic and international. Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol “FTK.”
Certain statements set forth in this press release constitute forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934) regarding Flotek Industries, Inc.’s business, financial condition, results of operations and prospects. Words such as will, continue, expects, anticipates, intends, plans, believes, seeks, estimates and similar expressions or variations of such words are intended to identify forward-looking statements, but are not the exclusive means of identifying forward-looking statements in this press release. Although forward-looking statements in this press release reflect the good faith judgment of management