secwatch.observer — SEC 8-K summary
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Issuer:     DAWSON GEOPHYSICAL CO (DWSN)
CIK:        0000799165
Form:       8-K/A
Filed at:   2023-06-07T23:59:59+00:00
Accession:  0001558370-23-010872
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/799165/000155837023010872/0001558370-23-010872-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/799165/000155837023010872/dwsn-20230321x8ka.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-010872

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