Dawson Geophysical (DWSN) Adopts Shareholder Rights Plan

Dawson Geophysical Company (NASDAQ: DWSN) (the "Company") announced today that its Board of Directors has adopted a Rights Plan designed to protect Company shareholders from coercive or unfair takeover techniques and to help ensure that the Company's shareholders are not deprived of the opportunity to realize the full and fair value of their investment, particularly given current market conditions. The Rights Plan is not designed to prevent any action that the Board of Directors determines to be in the best interest of the Company and its shareholders.

The Rights Plan, dated as of April 8, 2021, has a limited duration and will expire on April 7, 2022, but the Board of Directors may consider early termination. Terms of the Rights Plan provide for a dividend distribution of one right for each outstanding share of common stock to holders of record at the close of business on April 19, 2021. The Rights Plan would be triggered if an acquiring party accumulates 10% (or 15% in the case of eligible passive investors) or more of the Company's common stock and would entitle holders of the rights (other than the person or persons that trigger the Rights Plan) to purchase the Company's stock at a 50% discount or the Company may exchange each right for one share of common stock or equivalent. The rights will expire on April 7, 2022.

Specific details of the new Rights Plan will be described in a current report to be filed by the Company on Form 8-K with the Securities and Exchange Commission.

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