ION announces Rights Offering for new convertible Second Lien Notes or common stock
Ion Geophysical Corporation (IO)
Last ion geophysical corporation earnings: 2/5 04:53 pm
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US:NYSE Investor Relations:
investorrelations.i-o.com
Company Research
Source: GlobeNewswire
HOUSTON, March 05, 2021 (GLOBE NEWSWIRE) -- ION Geophysical Corporation (NYSE: IO) announced today that it is proceeding with steps to launch its previously announced rights offering (“Rights Offering”) for its New Second Lien Convertible Notes (“New Notes”) or its Common Stock, as part of its restructuring transactions (the “Restructuring Transactions”) approved by shareholders on February 23, 2021. The Company has filed a registration statement on Form S-1 with the Securities and Exchange Commission (“SEC”). The Company expects to launch the rights offering after the Registration Statement is declared effective by the SEC. Each of our shareholders as of March 15, 2021 (the “Record Date”) will receive one non-transferable subscription right (“Right”) for each share of our Common Stock they own. Each Right will entitle a holder to purchase (i) a principal amount of our New Notes equal to $50,000,000 divided by the number of shares of our Common Stock outstanding as of the Record Da
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