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  • ION Geophysical Corporation - IO - Nice hold for a week

    IO -   ION Geophysical Corporation on the Rise

    Hey Guys,

    IO - ION Geophysical corporation, a world-leading geophysical company, today announced that they have signed a term sheet to create a joint venture that will provide land seismic products worldwide. The joint venture will align ION's innovative land equipment business with BGP's own expertise and experience in land seismic operations to create a new enterprise with the resources, technology and experience required to provide state-of-the-art products and services on a global basis. 

    ION will significantly enhance its financial position through total cash proceeds of $175 million from BGP. BGP will receive a 51 percent interest in the joint venture and an approximate 16.66 percent interest in ION

    Prior to the joint venture closing, ION will also receive up to $40 million of bridge financing arranged by BGP. At the transaction's closing, ION will refinance and reduce its long-term debt, and receive an expanded replacement revolving line of credit. Overall, after closing ION expects to have over $100 million in liquidity from cash and spare capacity on its revolving line of credit.

    We can wait tomorrow morning for sometime to see its direction. It may fall a but early in the market for profit taking but it is going to go high this week. Very positive news and good signs of Massive Profits.

    Good Luck to all followers. Do the best og your research and give suggestions.

    God Bless,

    Be Rich.



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