ION initiates review of strategic alternatives
15 Setembro 2021 - 5:15PM
ION Geophysical Corporation (NYSE: IO) today announced that its
Board of Directors (the “Board”) has initiated a process to
evaluate a range of strategic alternatives to strengthen its
financial position and maximize stakeholder value as the company
continues to assess conditions in the capital markets and
right-size the business. These strategic alternatives include,
among others, a sale or other business combination transaction,
sales of assets, private or public equity transactions, debt
financing, or some combination of these.
ION has engaged Tudor Pickering, Holt & Co. to assist with
the evaluation process.
There can be no assurance that such evaluation will result in
one or more transactions or other strategic change or outcome. The
company has not set a timetable for the conclusion of its
consideration of strategic alternatives, and it does not intend to
comment further unless and until the Board has approved a specific
course of action or the company has otherwise determined that
further disclosure is appropriate or required.
About ION
Leveraging innovative technologies, ION delivers powerful
data-driven decision-making to offshore energy and maritime
operations markets, enabling clients to optimize investments and
results through access to our data, software and distinctive
analytics. Learn more at iongeo.com.
Contacts
ION (Investor relations)
Executive Vice President and Chief Financial OfficerMike
Morrison, +1 281.879.3615mike.morrison@iongeo.com
ION (Media relations)
Vice President, CommunicationsRachel White, +1
281.781.1168rachel.white@iongeo.com
The information herein contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
These forward-looking statements may include information and other
statements that are not of historical fact. Actual results may vary
materially from those described in these forward-looking
statements. All forward-looking statements reflect numerous
assumptions and involve a number of risks and uncertainties. These
risks and uncertainties include the risks associated with the
timing and development of ION Geophysical Corporation's products
and services; pricing pressure; decreased demand; changes in oil
prices; agreements made or adhered to by members of OPEC and other
oil producing countries to maintain production levels; the COVID-19
pandemic; the ultimate benefits of our completed restructuring
transactions; political, execution, regulatory, and currency risks;
and the impact to our liquidity in the current uncertain
macroeconomic environment. For additional information regarding
these various risks and uncertainties, see our Form 10-K for the
year ended December 31, 2020, filed on February 12, 2021.
Additional risk factors, which could affect actual results, are
disclosed by the company in its filings with the Securities and
Exchange Commission, including its Form 10-K, Form 10-Qs and Form
8-Ks filed during the year. The company expressly disclaims any
obligation to revise or update any forward-looking statements.
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