Financing ·
Geospace Technologies refinances $7.5M Woodforest debt with $25M revolving credit facility from Amerisource
GEOSGeospace Technologies Corp
On October 29, 2026, Geospace Technologies entered into a three-year Revolving Loan and Security Agreement with Amerisource Funding, establishing a $25 million revolving credit facility secured by substantially all assets. The company used the new facility to repay its outstanding $7.5 million balance under the previous Woodforest National Bank agreement, which was subsequently terminated without material penalties. Borrowings accrue interest at the prime rate plus 3.5% per annum, with monthly interest payments required and a minimum tangible net worth covenant of $65.0 million. Geospace Technologies Corporation operates in the geophysical instrumentation industry, manufacturing equipment for seismic data acquisition.