Tuesday October 21 7:04 PM EDT
Company Press Release
Dawson Geophysical Company Files Registration Statement Relating
to Proposed Public Offering
MIDLAND, Texas, Oct. 21 /PRNewswire/ -- Dawson Geophysical Company (Nasdaq:DWSN) announced today
that it has filed with the Securities and Exchange Commission a registration statement(A) relating to the
proposed public offering of 1,500,000 shares of its common stock of which 1,000,000 shares are being issued and
sold by the Company and 500,000 shares are being sold by L. Decker Dawson, President of the Company. The
Company's common stock is presently traded on the Nasdaq National Market under the symbol ''DWSN''. The
Company will grant the underwriters of the offering a 30-day option to purchase up to an additional 225,000
shares of common stock for the purpose of covering over-allotments, if any. The proceeds to be received by the
Company will be used to reduce bank indebtedness, to acquire new equipment, to upgrade existing equipment
and for general corporate purposes.
Dawson Geophysical Company acquires and processes three-dimensional seismic data used in the exploration,
development and field management of oil and natural gas reserves. The Company's six land-based
three-dimensional seismic crews operate primarily in the southwestern United States, but have responded to
demand from south Texas and North Dakota. Data processing is performed at the Company's computer center
located in Midland, Texas.
(A) A registration statement relating to the common stock has been filed with the Securities and Exchange
Commission, but has not yet become effective. The offering of common stock will be made only by means of the
prospectus included in such registration statement. The common stock may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes effective. This announcement shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the common stock in any state
in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of any such state.
SOURCE Dawson Geophysical Company |
