Key Developments For Dawson Geophysical Co
Dawson Geophysical Co (DWSN.O) (Nasdaq)
Dawson Geophysical Co. Announces the Appointment of New CEO
Dawson Geophysical Co. announced the appointment of Stephen C. Jumper as its new Chief Executive Officer effective immediately and the resignation of L. Decker Dawson as Chief Executive Officer who will continue as Chairman.
Dawson Geophysical Co. Files a Shelf Registration Statement
Dawson Geophysical Co. announced that it has filed a shelf registration statement with the Securities and Exchange Commission covering the offer and sale from time to time of up to $75 million in debt securities, preferred and common stock, and warrants.
Dawson Geophysical Co. Announces Pricing of Public Offering of 1,800,000 Shares
Dawson Geophysical Co. announced that it priced its public offering of 1,800,000 shares of common stock at $24.50 per share, raising $41.1 million in net proceeds to the Company. The shares are expected to be delivered on March 4, 2005. The Company has also granted the underwriters a 30-day option to purchase up to an additional 234,500 shares of common stock to cover over-allotments, if any. The Company expects to use the net proceeds of this offering to repay borrowings under the revolving line of credit loan agreement used to complete the funding of its 2004 seismic data acquisition crew expansion, to complete funding of its January 2005 seismic data acquisition crew expansion, to field an additional data acquisition crew in the second calendar quarter of 2005, to increase the capacity of existing crews and for general corporate purposes. Raymond James & Associates, Inc. is acting as the lead manager and sole book-runner, with A.G. Edwards & Sons, Inc. acting as a co-manager.
Dawson Geophysical Co. Files Registration Statement for Proposed Offering of Common Stock
Dawson Geophysical Co. announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of up to 1,500,000 shares of its common stock. The offering will be underwritten by Raymond James & Associates, Inc. The Company has also granted the underwriter a thirty-day option to purchase an aggregate of 225,000 additional shares of common stock solely to cover over- allotments, if any.
Dawson Geophysical Co. Shares Rise Sharply on Strong FY 2004 Results, Analyst Upgrade
Dawson Geophysical Co. shares rose sharply after the Company was upgraded by Raymond James from Market Perform to Outperform. The Company's stock also increased following its report on November 12, 2004, of full year 2004 earnings of $1.53, compared to a loss of $0.16 per share for full year 2003, with fourth quarter 2004 earnings of $0.72 per share. The Company said its improved performance is a direct result of the domestic petroleum industry's recent return to aggressive exploration for reserves of crude oil and natural gas caused by improved prices.
