---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-21-139706"
form_type: "8-K"
ticker: "DWSN"
cik: "0000799165"
company_name: "DAWSON GEOPHYSICAL CO"
filed_at: "2021-11-16T23:59:59+00:00"
generated_at: "2026-06-28T08:03:01.576946+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Dawson reports $36.5M cash, warns of continued cash burn; Board repeats tender recommendation at $2.34/share

## Summary
- Cash, restricted cash and ST investments approx. $36.5M as of Nov 12, 2021, down from Sep 30 balance.
- Negative net working capital (ex-cash, leases) at Sep 30, 2021; cash burn accelerated in 2021.
- Expects 2022 activity similar to Q2/Q3 2021, only slight improvement late 2022; no meaningful recovery in seismic market.
- Board unanimously recommends tendering shares at $2.34 per share to Wilks subsidiary; tender open through Nov 30.
- Company notes E&P capital discipline persists, further reducing demand for seismic services.

## SEC filing metadata
- accession: 0001104659-21-139706
- form_type: 8-K
- ticker: DWSN
- cik: 0000799165
- company_name: DAWSON GEOPHYSICAL CO
- filed_at: 2021-11-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/799165/000110465921139706/0001104659-21-139706-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/799165/000110465921139706/tm2133009d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-21-139706
- JSON: https://secwatch.observer/filing/0001104659-21-139706.json
- Plain text: https://secwatch.observer/filing/0001104659-21-139706.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.