Dawson Geophysical amends credit facility: maturity extended to Sep 2023, commitment reduced to $10M

DAWSON GEOPHYSICAL CO

Maturity of revolving credit facility extended from Sept 30, 2022 to Sept 30, 2023 via Third Loan Modification Agreement.
Lender commitment reduced from $15M to $10M; outstanding balance as of Sept 30, 2022 was $0.
Interest rate changed: from 6.00% to 7.75% after Sept 29, 2022; floor from 3.50% to 4.75% after Sept 29, 2022.
New tangible net worth covenant of $38M and minimum liquidity requirement of $5M added.
Credit facility continues to be secured by accounts receivable and a $5M certificate of deposit.

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