ION Geophysical (IO) Announces $10.5 Million Registered Direct Offering of Common Stock

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ION Announces $10.5 Million Registered Direct Offering

February 16, 2021 8:30 AM EST

HOUSTON, Feb. 16, 2021 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE: IO) (ION or the Company) today announced that it has entered into a securities purchase agreement with institutional investors for the purchase and sale of 2,990,001 shares of its common stock at a purchase price of $3.50 per share in a registered direct offering. The closing of the offering is expected to occur on or about February 18, 2021, subject to the satisfaction of customary closing conditions.

Chris Usher, IONs President and Chief Executive Officer, said, The proceeds will provide additional liquidity... More