Benzinga | Oct 25, 2021 06:07AM EDT

Dawson Geophysical Company Announce A Subsidiary Of Wilks Brothers Will Commence Tender Offer To Acquire All Of Co.'s Outstanding Shares For $2.34

Dawson Geophysical Company (NASDAQ:DWSN) ("Dawson" or the "Company") and Wilks Brothers, LLC ("Wilks") today announced that they have entered into a definitive merger agreement (the "Merger Agreement") pursuant to which a subsidiary of Wilks will commence on or before November 1, 2021 a tender offer to acquire all of the Company's outstanding common shares for $2.34 per share in cash (the "Offer"). Subject to the closing of the Offer, the merger agreement also contemplates that Wilks will acquire any Dawson shares that are not tendered into the Offer at the same price per share through a second-step merger, which will be completed as soon as practicable following the closing of the Offer, subject to the approval of at least 80% of the outstanding Dawson shares.