UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events
On February 27, 2023, Geospace Technologies Corporation (the “Company”) completed the sale of its satellite property located at 6410 Langfield Road in Houston, Texas at a sales price of $4,000,000. The Company is in the process of relocating the operations of this facility to its main campus at 7700 Pinemont Drive in Houston, Texas. The satellite property provides additional warehousing and maintenance and repair capacity for the Company’s marine rental equipment operations. In conjunction with the sale, the Company entered into a three-month lease agreement with the buyer to remain in possession of the facility during the relocation process. The sale was part of the Company’s plan to streamline operations and reduce costs.
Item 9.01. Financial Statements and Exhibits
Exhibit 104 Cover Page Interactive Data (embedded within the Inline XBRL document).
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.
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GEOSPACE TECHNOLOGIES CORPORATION |
Date: February 28, 2023 |
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By: /s/ Robert L. Curda |
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Robert L. Curda |
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Vice President, Chief Financial Officer & Secretary
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Document and Entity Information |
Feb. 27, 2023 |
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| Cover [Abstract] | |
| Entity Registrant Name | GEOSPACE TECHNOLOGIES CORP |
| Amendment Flag | false |
| Entity Central Index Key | 0001001115 |
| Document Type | 8-K |
| Document Period End Date | Feb. 27, 2023 |
| Entity Incorporation State Country Code | TX |
| Entity File Number | 001-13601 |
| Entity Tax Identification Number | 76-0447780 |
| Entity Address, Address Line One | 7007 Pinemont |
| Entity Address, City or Town | Houston |
| Entity Address, State or Province | TX |
| Entity Address, Postal Zip Code | 77040 |
| City Area Code | (713) |
| Local Phone Number | 986-4444 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock |
| Trading Symbol | GEOS |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |