Dawson Geophysical files Breckenridge audited financials: $16.9M revenue, $1.87M net income in 2022

DAWSON GEOPHYSICAL CO

Acquisition consideration: 1,188,235 DWSN shares and a $9,880,000.50 convertible note (converts to 5,811,765 shares at $1.70/share, subject to stockholder approval).
Breckenridge 2022 audited results: revenue $16.89M, net income $1.87M, total assets $8.13M as of Dec 31, 2022.
Breckenridge's largest customer (Waggoner Exploration) accounted for 88% of 2022 revenue.
Convertible note matures on or after June 30, 2024; conversion requires NASDAQ stockholder approval.

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