secwatch.observer — SEC 8-K summary
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Issuer:     DAWSON GEOPHYSICAL CO (DWSN)
CIK:        0000799165
Form:       8-K
Filed at:   2021-10-25T23:59:59+00:00
Accession:  0001104659-21-129180
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.02, 3.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dawson Geophysical agrees to be acquired by Wilks Brothers for $2.34/share; provides preliminary Q3 results
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- Wilks subsidiary to launch tender offer by Nov 1 for all Dawson shares at $2.34 cash per share.
- Offer requires at least 80% of shares tendered; no financing condition; second-step merger expected Q4 2021.
- Dawson Board unanimously recommends tender, citing limited stock liquidity and challenging seismic market.
- Preliminary Q3 2021 revenue ~$1.9M, negative EBITDA $4.4-4.8M; cash + short-term investments $41.6M.
- One active crew in lower 48 resumed mid-Oct; expects two Canada crews in late Q4 2021 through Q1 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799165/000110465921129180/0001104659-21-129180-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799165/000110465921129180/tm2130885d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-129180

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