Dawson Geophysical extends $15M credit facility maturity to Sept 2022, lowers tangible net worth covenant to $55M

DAWSON GEOPHYSICAL CO

Second Loan Modification with Dominion Bank extends revolving credit facility maturity from Sept 2021 to Sept 2022.
Tangible net worth covenant reduced from $75M to $55M, measured quarterly.
No amounts outstanding under the $15M facility as of Sept 30, 2021; availability based on eligible receivables and collateral deposit.
Facility continues to be secured by accounts receivable and a $5M certificate of deposit.

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