Dawson Geophysical purchases $24.2M Pioneer seismic nodes from Geospace; financed via notes

DAWSON GEOPHYSICAL CO

Dawson Operating subsidiary acquires Pioneer ultralight land nodes from Geospace for ~$24.2M total purchase price.
Payment structure: $4.8M cash at signing, $1.2M upon final delivery, $18.2M financed via three 36-month promissory notes at 8.75% interest.
Notes secured by equipment liens and deeds of trust on Dawson's real properties in Midland, Texas.
Deliveries start August 2025; final shipment expected by early January 2026.
Dawson CEO states investment provides competitive advantage for high-resolution surveys; Geospace notes first major Pioneer sale.

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