secwatch.observer — SEC 8-K summary
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Issuer:     DAWSON GEOPHYSICAL CO (DWSN)
CIK:        0000799165
Form:       8-K
Filed at:   2022-10-04T23:59:59+00:00
Accession:  0001104659-22-105845
Event type: debt
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799165/000110465922105845/0001104659-22-105845-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799165/000110465922105845/tm2227308d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-105845

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