GeoSpace Technologies Enters Credit Agreement
Ticker: GEOS · Form: 8-K · Filed: Sep 4, 2025 · CIK: 1001115
Sentiment: neutral
Topics: debt, financing, material-agreement
TL;DR
GeoSpace Technologies just signed a new credit agreement, locking in some debt.
AI Summary
On August 29, 2025, GeoSpace Technologies Corporation entered into a material definitive agreement, specifically a credit agreement, which creates a direct financial obligation for the company. This agreement is a significant event for GeoSpace Technologies Corporation, impacting its financial structure and obligations.
Why It Matters
This filing indicates GeoSpace Technologies Corporation has secured new financing or restructured existing debt, which could impact its operational capacity and financial flexibility.
Risk Assessment
Risk Level: medium — Entering into a credit agreement signifies new financial obligations and potential leverage, which carries inherent financial risks.
Key Players & Entities
- GEOSPACE TECHNOLOGIES CORPORATION (company) — Registrant
- August 29, 2025 (date) — Date of earliest event reported
- Texas (location) — State of Incorporation
- 7007 Pinemont (location) — Address of Principal Executive Offices
- Houston (location) — City of Principal Executive Offices
- 77040 (location) — Zip Code of Principal Executive Offices
FAQ
What type of material definitive agreement did GeoSpace Technologies Corporation enter into?
GeoSpace Technologies Corporation entered into a credit agreement.
On what date was the earliest event reported in this 8-K filing?
The earliest event reported was on August 29, 2025.
What is the state of incorporation for GeoSpace Technologies Corporation?
GeoSpace Technologies Corporation is incorporated in Texas.
What is the principal executive office address for GeoSpace Technologies Corporation?
The principal executive office is located at 7007 Pinemont, Houston, Texas 77040.
Does this filing involve a direct financial obligation for the registrant?
Yes, the filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of a registrant.
Filing Stats: 741 words · 3 min read · ~2 pages · Grade level 11.6 · Accepted 2025-09-04 16:15:10
Key Financial Figures
- $25 million — facility with a maximum availability of $25 million. Interest shall accrue on outstanding b
- $85 m — imum consolidated tangible net worth of $85 million, (ii) minimum liquidity of $10 mi
- $10 m — $85 million, (ii) minimum liquidity of $10 million, and (iii) a minimum asset covera
- $1 million — ity, or (b) LC Exposure is greater than $1 million. The above description of the Agreemen
Filing Documents
- geos20250904_8k.htm (8-K) — 26KB
- ex_859168.htm (EX-10.1) — 882KB
- 0001001115-25-000003.txt ( ) — 1208KB
- geos-20250829.xsd (EX-101.SCH) — 3KB
- geos-20250829_def.xml (EX-101.DEF) — 11KB
- geos-20250829_lab.xml (EX-101.LAB) — 15KB
- geos-20250829_pre.xml (EX-101.PRE) — 11KB
- geos20250904_8k_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement On August 29, 2025, Geospace Technologies Corporation (the "Company") entered into a First Amended and Restated Credit Agreement ("the Agreement") by and among the Company and certain of the Company's subsidiaries, as borrowers (the "Borrowers"), and Woodforest National Bank, as lender. The Agreement extended the Company's Revolving Loan and Security Agreement, dated as of July 26, 2023, between the Company and Woodforest National Bank. The Agreement is for a three-year term and provides a revolving credit facility with a maximum availability of $25 million. Interest shall accrue on outstanding borrowings at a rate equal to, at the Company's option, (a) 30 Day Term SOFR plus a margin equal to 2.75% per annum or (b) an Alternate Base Rate plus a margin of 2.75% per annum, as applicable. The Borrowers are required to make monthly interest payments on borrowed funds. The Agreement is secured by substantially all of the assets of the Borrowers, except for certain Excluded Property. The Agreement requires the Company to maintain (i) a minimum consolidated tangible net worth of $85 million, (ii) minimum liquidity of $10 million, and (iii) a minimum asset coverage ratio of 2.00 to 1.00. The Agreement also requires the Borrowers to maintain a springing minimum interest coverage ratio of at least 1.50 to 1.00, tested quarterly whenever (a) there is an outstanding balance on the revolving credit facility, or (b) LC Exposure is greater than $1 million. The above description of the Agreement is qualified in its entirety by reference to the complete text of the Revolving Loan and Security Agreement filed as filed as Exhibit 10.1 hereto, which is incorporated herein by reference. Capitalized terms not defined herein shall have the meanings assigned to such terms in the Agreement. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant The information co
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits Exhibit 10.1 First Amended and Restated Credit Agreement dated August 29, 2025 among Geospace Technologies Corporation, and each other person from time to time party thereto as a borrower, and Woodforest National Bank, as lender. Exhibit 104 Cover Page Interactive Data (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GEOSPACE TECHNOLOGIES CORPORATION Date: September 4, 2025 By: /s/ Robert L. Curda Robert L. Curda Executive Vice President, Chief Financial Officer & Secretary