secwatch.observer — SEC 8-K summary
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Issuer:     DAWSON GEOPHYSICAL CO (DWSN)
CIK:        0000799165
Form:       8-K
Filed at:   2021-11-16T23:59:59+00:00
Accession:  0001104659-21-139706
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799165/000110465921139706/0001104659-21-139706-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799165/000110465921139706/tm2133009d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-139706

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer