13 May 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP, E&P Technology & Services Dale J Lambert received 61,500 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
13 May 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP, Gen Coun & Corp Secy Matthew R Powers received 61,500 shares as part of the equity award.
13 May 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP & CFO Michael L Morrison received 77,500 shares as part of the equity award.
13 May 2021director interest notice● Neutral
ION GEOPHYSICAL CORP VP & Corp Controller Scott Schwausch received 20,000 shares as part of the equity award.
13 May 2021director interest notice● Neutral
ION GEOPHYSICAL CORP President & CEO Christopher Theron Usher received 115,000 shares as part of the equity award.
13 May 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP, Operations Optimization Sheila M Rodermund received 61,500 shares as part of the equity award.
13 May 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP, Inno & Strat Mktg Ken Williamson received 61,500 shares as part of the equity award.
6 May 2021quarterly activities report▼ Bad
ION GEOPHYSICAL CORP reported quarterly revenue of $14.0 million and a net loss of $7.2 million for the period ended 2021-03-31.
6 May 2021quarterly activities report▼ Bad
ION GEOPHYSICAL CORP reported quarterly revenue of $14.0 million and a net loss of $7.2 million for the period ended 2021-03-31.
30 Apr 2021director interest notice● Neutral
Gates Capital Management, INC. became a ION GEOPHYSICAL CORP 10%+ owner and company insider (initial ownership filing).
30 Apr 2021substantial holder notice● Neutral
GATES CAPITAL MANAGEMENT, L.P, GATES CAPITAL MANAGEMENT GP, LLC, GATES CAPITAL MANAGEMENT, INC, JEFFREY L. GATES disclosed a new substantial ION GEOPHYSICAL CORP shareholding (16.40% of votes).
26 Apr 2021securities registration● Neutral
ION GEOPHYSICAL CORP filed a prospectus supplement for an offering off its existing shelf.
26 Apr 2021material agreement▼ Bad
On Apr 26, 2021, just after the restructuring closed, ION signed an at-the-market agreement with H.C. Wainwright & Co. to sell up to $10.0M of new common stock over time, with the agent taking a 3% commission on shares sold. This is the share sale described in the prospectus supplement filed the same day. Any sales would add shares on top of the 28.8M outstanding after the restructuring; the filing does not say how much will be sold or what the money is for.
22 Apr 2021director interest notice● Neutral
ION GEOPHYSICAL CORP director James M Lapeyre Jr. acquired 107,859 shares and disposed of 1,669,065 in a set of related equity transactions.
22 Apr 2021capital raising announcement▲ GoodMajor
On Apr 20, 2021 ION completed the restructuring. Holders of $113.5M (about 94.1%) of the $120.6M old notes exchanged them for $84.7M of new 8.00% notes due Dec 15, 2025, 6.1M shares and $20.7M of cash. The rights offering raised $41.8M, and the backstop parties got 5% fees in kind. In total $116.2M of new notes and 10.9M shares were issued, leaving 28.8M shares outstanding, and ION expects about $14M of net proceeds. The 95% tender condition was apparently waived or reduced (inference). This resolves the 2021 maturity, but the new notes convert at about $3.00, the holder of one Series A preferred share can appoint two independent directors, and the share count is far higher than before.
21 Apr 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP, Inno & Strat Mktg Ken Williamson had 23,584 shares withheld for taxes on vesting stock.
21 Apr 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP, Gen Coun & Corp Secy Matthew R Powers had 8,881 shares withheld for taxes on vesting stock.
21 Apr 2021director interest notice● Neutral
ION GEOPHYSICAL CORP President & CEO Christopher Theron Usher disposed of 24,051 shares.
21 Apr 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP & CFO Michael L Morrison had 5,697 shares withheld for taxes on vesting stock.
21 Apr 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP, E&P Technology & Services Dale J Lambert had 5,209 shares withheld for taxes on vesting stock.
21 Apr 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP & CFO Michael L Morrison had 5,697 shares withheld for taxes on vesting stock.
21 Apr 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP, Operations Optimization Sheila M Rodermund exercised options for 1,080 shares, with 594 withheld for taxes.
21 Apr 2021director interest notice● Neutral
ION GEOPHYSICAL CORP VP & Corp Controller Scott Schwausch had 2,092 shares withheld for taxes on vesting stock.
6 Apr 2021quarterly activities report▼ Bad
ION GEOPHYSICAL CORP reported quarterly revenue of $14.0 million and a net loss of $7.2 million for the period ended 2021-03-31.
10 Mar 2021securities registration● Neutral
ION GEOPHYSICAL CORP filed the final prospectus for a registered offering.
10 Mar 2021securities registration● Neutral
ION GEOPHYSICAL CORP filed the final prospectus for a registered offering.
9 Mar 2021director interest notice● Neutral
ION GEOPHYSICAL CORP EVP & CFO Michael L Morrison had 2,971 shares withheld for taxes on vesting stock.
3 Mar 2021director interest notice● Neutral
ION GEOPHYSICAL CORP director Shaohua Zhang acquired 3,033 shares and disposed of 160 in a set of related equity transactions.
3 Mar 2021director interest notice● Neutral
ION GEOPHYSICAL CORP director James M Lapeyre Jr. received 2,500 shares as part of the equity award.
3 Mar 2021business combination● Neutral
ION filed another amendment to its S-4, apparently including full-year 2020 financial statements. The visible text is only XBRL tagging data, and the rest was truncated, so no new deal terms can be confirmed from it. A later filing says the final prospectuses were dated March 10, 2021.