HOUSTON, Sept. 5, 2012 (GLOBE NEWSWIRE) -- Global Geophysical Services, Inc. ("Global") (NYSE:GGS) today announced that it has commenced an offer to exchange $50,000,000 principal amount of 10½% Senior Notes due 2017, which are registered under the Securities Act of 1933 (the "new notes"), for $50,000,000 principal amount of outstanding 10½% Senior Notes due 2017, which have not been registered under the Securities Act of 1933 (the "old notes"). The terms of the new notes to be issued are identical in all material respects to the old notes, except that the new notes will have been registered under the Securities Act of 1933, will not have any of the transfer restrictions, registration rights and additional interest provisions relating to the old notes and will bear a different CUSIP number from the old notes. Global will not receive any proceeds from the exchange offer.
The exchange offer is being conducted upon the terms and subject to the conditions set forth in the prospectus dated September 5, 2012, and the related letter of transmittal. The exchange offer will be open for acceptance until 5:00 PM, eastern time, on Thursday, September 27, 2012, unless extended. Persons with questions regarding the exchange offer should contact the exchange agent, Bank of New York Mellon Trust Company, N.A., at (212) 815-2742.
This press release shall not constitute an offer to exchange, nor a solicitation of an offer to exchange, the old notes. A copy of the prospectus for the exchange offer and related letter of transmittal may be obtained by contacting the exchange agent at the telephone number listed above or by writing to The Bank of New York Mellon Trust Company, N.A., c/o The Bank of New York Mellon Corporation, 101 Barclay Street, Floor 7 East, New York, New York 10286, Attn: Corporate Trust Operations – Reorg Unit – Diane Amoroso.