Past year: ▼ 64%(10.23 – 28.70 USD)
Each one in plain English, with the numbers worked through for a shareholder.
5 June 2009debt financing● Neutral
On June 2, 2009 the company entered a new Western National Bank credit line of $20.0 million, down from the $40.0 million facility of 2008, subject to a borrowing base tied to accounts receivable. Nothing was borrowed at signing, interest has a 4% floor, and it matures June 2, 2011.
5 June 2008debt financing● Neutral
On June 2, 2008 the company replaced its Western National Bank credit line with a new one, doubling the borrowing limit to $40.0 million from $20.0 million. The $10.0 million already borrowed was carried over, the loan is secured by receivables and equipment, and it matures June 2, 2009. This continues the Western National Bank relationship begun in 2004.
29 Jan 2007material agreement● Neutral
Shareholders approved the 2006 Stock and Performance Incentive Plan at the January 23, 2007 annual meeting, allowing awards such as options, stock awards, cash awards, performance awards and appreciation rights to employees, consultants and non-employee directors. The filing also announced that first-quarter fiscal 2007 results would be released February 6, 2007, with a conference call that day. The filing gives no number of shares reserved for the plan, so the dilution effect isn't stated.
4 Feb 2005debt financing● Neutral
On February 1, 2005 the company borrowed the remaining $5.0 million of its Western National Bank credit line, after borrowing $5.0 million on January 12, 2005. That means the full $10.0 million facility from December 2004 has now been drawn.
23 Dec 2004debt financing● Neutral
On December 22, 2004, the company (filing as Dawson Geophysical Company) signed a $10.0 million secured revolving credit line with Western National Bank, usable until December 22, 2005. Interest is the greater of the Prime Rate and 5.0%, the loan is secured by accounts receivable, and the company must keep a minimum Tangible Net Worth of $40.0 million.
