Key Developments: Global Geophysical Services Inc (GGS.N)
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12:07pm EDT
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$4.38
$4.38
$4.38
$4.23
9,362
47,382
$6.47
$1.86
Latest Key Developments (Source: Significant Developments)
Global Geophysical Services Inc Announces Chairman Change-Form 8-K
Global Geophysical Services Inc reported in its Form 8-K that on January 25, 2013, Richard A. Degner resigned as an employee, Director and Chairman of the Board of Directors (Board) of the Company and as a director and officer of certain of the Company's subsidiaries. These resignations were not the result of any disagreement between Mr. Degner and the Company or its subsidiaries. Upon acceptance of Mr. Degner's resignation, the Company's Board appointed Richard C. White as Chairman of the Board. Mr. White currently serves as President, Chief Executive Officer and director of the Company. Full Article
Global Geophysical Services Inc Appoints Richard White as President & CEO
Global Geophysical Services Inc announced that Richard White has been appointed as its new President and Chief Executive Officer effective immediately. Full Article
Global Geophysical Services, Inc. Prices $50 Million Private Senior Notes Offering
Global Geophysical Services, Inc. announced that it priced a private offering of $50 million in aggregate principal amount of 101/2% senior notes due 2017 (the notes) to qualified institutional buyers pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933. Reflecting initial purchaser discounts, the transaction was priced with a yield to maturity of 12.106%. The closing of the Company's private notes offering is expected to occur on March 28, 2012, subject to customary closing conditions. The notes will be guaranteed on a senior basis by each of the Company's domestic subsidiaries. The Company estimates that its net proceeds from the private notes offering will be approximately $45.5 million after deducting the initial purchasers' discounts, offering expenses and original issue discount. The net proceeds of the transaction will be applied to reduce the indebtedness under our revolving credit facility. Full Article
Global Geophysical Services, Inc. Completes Acquisition Of Sensor Geophysical, Ltd.
Global Geophysical Services, Inc. announced that it has completed its previously announced acquisition of Sensor Geophysical Ltd. (Sensor). Sensor is one of the 3C and 4C processing providers with their own software for advanced multi-component imaging. Full Article
Global Geophysical Services, Inc. Announces Planned Acquisition Of Sensor Geophysical, Ltd.
Global Geophysical Services, Inc. announced that it has signed a Letter of Intent to acquire 100% of the shares of Sensor Geophysical Ltd. (Sensor) of Calgary, Alberta. Completion of the transaction is subject to execution of a definitive purchase and sale agreement and the satisfaction of certain other conditions. The terms of the acquisition were not disclosed. Full Article

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