Gate City Capital Exits GEOS Position as of Jan 31, 2024

TL;DR

**Gate City Capital Management just dumped all its GEOS shares.**

AI Summary

Gate City Capital Management, LLC, an Illinois-based investment firm, has filed an amendment to its SC 13G, indicating a change in its beneficial ownership of Geospace Technologies Corporation (NASDAQ: GEOS) common stock. As of January 31, 2024, Gate City Capital Management now reports having 0 shares with sole voting power and 0 shares with shared voting power, a significant decrease from previous filings. This matters to investors because it signals that a notable institutional holder has completely exited its position, which could be interpreted as a loss of confidence in the company's future prospects by that specific fund.

Why It Matters

This filing shows that a significant institutional investor, Gate City Capital Management, LLC, has sold all its shares in Geospace Technologies Corporation, potentially signaling a lack of confidence in the company's future performance.

Risk Assessment

Risk Level: medium — The complete divestment by an institutional investor could indicate underlying concerns about the company's future, posing a medium risk to current and prospective shareholders.

Analyst Insight

Investors should investigate the reasons behind Gate City Capital Management's complete divestment from Geospace Technologies Corporation and consider if these reasons could impact their own investment thesis.

Key Numbers

• 0 — Sole Voting Power Shares (Gate City Capital Management, LLC now holds 0 shares with sole voting power in Geospace Technologies Corporation.)
• 0 — Shared Voting Power Shares (Gate City Capital Management, LLC now holds 0 shares with shared voting power in Geospace Technologies Corporation.)

Key Players & Entities

• Gate City Capital Management, LLC (company) — the reporting person that filed the SC 13G/A
• Geospace Technologies Corporation (company) — the issuer of the securities
• January 31, 2024 (date) — the date of the event requiring the filing
• Illinois (company) — place of organization for Gate City Capital Management, LLC

Forward-Looking Statements

• Other institutional investors may review their positions in Geospace Technologies Corporation following Gate City Capital Management's exit. (Geospace Technologies Corporation) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• fp0087070-1_sc13ga.htm (SC 13G/A) — 60KB
• 0001398344-24-002392.txt ( ) — 61KB

(a) Name of Issuer

Item 1. (a) Name of Issuer: Geospace Technologies Corporation (b) Address of Issuer’s Principal Executive Offices: 7007 Pinemont Drive, Houston, TX, 77040-6601

(a) Name of Person Filing

Item 2. (a) Name of Person Filing: Gate City Capital Management, LLC (b) Address of Principal Business Office or, if None, Residence: 8725 W. Higgins Road, Suite 530, Chicago, IL 60631 (c) Citizenship: United States (d) Title of Class of Securities: Common Stock (e) CUSIP Number: 37364X109

If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the

Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Exchange Act. (b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act. (c) [ ] Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) [ ] Investment company registered under Section 8 of the Investment Company Act. (e) [ x ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). CUSIP NO. 37364X109 13G Page 5 of 7 Pages

Ownership

Item 4. Ownership. 1. Gate City Capital Management, LLC (a) Amount beneficially owned: 0 (b) Percent of class: 0% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 0 2. Michael Melby (a) Amount beneficially owned: 0 (b) Percent of class: 0% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 0 (iv) Shared power to dispose or to direct the disposition of: 0

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X]

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. Not applicable

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group. Not applicable

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group. Not applicable CUSIP NO. 37364X109 13G Page 6 of 7 Pages

Certification

Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Gate City Capital Management, LLC By: /s/ Michael Melby Name: Michael Melby Title: Managing Member By: /s/ Michael Melby Name: Michael Melby Date: February 9, 2024 CUSIP NO. 37364X109 13G Page 7 of 7 Pages JOINT FILING AGREEMENT In accordance with the requirements of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, and subject to the limitations set forth therein, the parties set forth below agree to jointly file the Schedule 13G to which this joint filing agreement is attached, and have duly executed this joint filing agreement as of the date set forth below. Date: February 9, 2024 Gate City Capital Management, LLC By: /s/ Michael Melby Name: Michael Melby Title: Managing Member By: /s/ Michael Melby Name: Michael Melby Date: February 9, 2024