Brief: Dawson Geophysical Enters Loan And Security Agreement With Dominion Bank

Dawson Geophysical

01/10/2019 15:10

Oct 1 (Reuters) - Dawson Geophysical Co  DWSN.O :
    * DAWSON GEOPHYSICAL  - ON SEPT 30, CO ENTERED INTO A NEW
LOAN AND
SECURITY AGREEMENT WITH DOMINION BANK
    * DAWSON GEOPHYSICAL CO - LOAN AGREEMENT MAY PROVIDE FOR A
REVOLVING CREDIT FACILITY IN AN AMOUNT UP TO LESSER OF $15
MILLION
    * DAWSON GEOPHYSICAL-AGREEMENT COULD ALSO PROVIDE FOR 
CREDIT
FACILITY SUM OF 80% OF ACCOUNTS RECEIVABLE,100% OF AMOUNT ON
DEPOSIT IN COLLATERAL ACCOUNT
    * DAWSON GEOPHYSICAL CO - AS OF SEPTEMBER 30, 2019, COMPANY
HAS
NOT BORROWED ANY AMOUNTS UNDER REVOLVING CREDIT FACILITY
    * DAWSON GEOPHYSICAL  - ALL OUTSTANDING AMOUNTS OWED UNDER
LOAN
AGREEMENT BECOME DUE AND PAYABLE NO LATER THAN MATURITY DATE OF
SEPTEMBER 30, 2020

Source text: (http://bit.ly/2o98mLE)
Further company coverage:  DWSN.O 

 ((Reuters.Briefs@thomsonreuters.com;))