DAWSON GEOPHYSICAL COMPANY (NASDAQ:DWSN) Files An 8-K Entry into a Material Definitive Agreement

DAWSON GEOPHYSICAL COMPANY (NASDAQ:DWSN) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry Into Material Definitive Agreements.

Story continues below

Amendment to Credit Facility

On November23, 2018, Dawson Geophysical Company (the “Company”) entered into a Seventeenth Amendment (the “Amendment”) to the Amended and Restated Loan and Security Agreement (as amended, the “Amended Loan Agreement”) with its lender, Veritex Community Bank, a Texas state bank (“Veritex Bank”). The Amendment amended the payment schedule and the interest rate terms of a letter of credit issued by Veritex Bank at the Company’s request. A copy of the Amendment is attached hereto as Exhibit 10.1.

The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit10.1 to this Current Report and is incorporated by reference herein.

Item 2.03.Creation of Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information provided in item 1.01 of this Current Report on Form8-K is incorporated herein by reference.

Item 7.01. Regulation FD Disclosure.

On February21, 2019, the Company issued a press release announcing that it plans to publicly release its preliminary and unaudited financial results for its 2018 year-end and the quarter ended December31, 2018, the Company’s fourth quarter of 2018, before the market opens on Thursday, February28, 2019. In addition, the Company announced that an investors’ conference call to review the fourth quarter results will be held on Thursday, February28, 2019, at 9:00 a.m.Central Time.

A copy of the press release is furnished as an exhibit to this Current Report. In accordance with General Instruction B.2 of Form8-K, the information set forth herein and in the press release is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

In accordance with General Instruction B.2 of Form8-K, the information set forth in the attached Exhibit99.1 is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section18 of the Exchange Act.

DAWSON GEOPHYSICAL CO Exhibit
EX-10.1 2 a19-5006_1ex10d1.htm EX-10.1 Exhibit 10.1   VERITEX COMMUNITY BANK — LOAN NO. 17039769   SEVENTEENTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT   THIS SEVENTEENTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) dated as of NOVEMBER 23,…
To view the full exhibit click here

About DAWSON GEOPHYSICAL COMPANY (NASDAQ:DWSN)

Dawson Geophysical Company, formerly TGC Industries, Inc., is a provider of onshore seismic data acquisition and processing services with operations throughout the United States and Canada. The Company acquires and processes two-dimensional (2-D), three-dimensional (3-D) and multi-component seismic data for its clients, ranging from oil and gas companies to independent oil and gas operators, as well as providers of multi-client data libraries. It operates through contract seismic data acquisition and processing services segment. It operates approximately 10 seismic crews, consisting of over eight crews in the United States and approximately two crews in Canada, and a seismic data processing center. It owns equipment for over 20 land-based seismic data acquisition crews, approximately 220 vibrator energy source units, over 248,000 recording channels and approximately 20 central recording systems.

An ad to help with our costs