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SAExploration Holdings Inc (SAEX.OQ)

SAEX.OQ on NASDAQ Stock Exchange Capital Market

1.86USD
23 Aug 2019
Change (% chg)

$-0.15 (-7.46%)
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Volume
20,757
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39,395
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$31.85
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Latest Key Developments (Source: Significant Developments)

SAExploration Holdings Received Notice Of Delisting Or Failure To Satisfy A Continued Listing Rule Or Standard From Nasdaq On 16 Aug
Thursday, 22 Aug 2019 

Aug 22 (Reuters) - SAExploration Holdings Inc ::SAEXPLORATION HOLDINGS INC - ON 16 AUG, CO RECEIVED NOTICE OF DELISTING OR FAILURE TO SATISFY A CONTINUED LISTING RULE OR STANDARD FROM NASDAQ.SAEXPLORATION - DELIVERED NOTICES, CERTIFICATES TO TRUSTEES & AGENTS UNDER DEBT AGREEMENTS, NOTIFYING THEM OF EVENTS OF DEFAULT UNDER THE AGREEMENTS.SAEXPLORATION - EVENTS OF DEFAULT AROSE FROM NEED TO RESTATE CERTAIN OF THE COMPANY’S HISTORICAL FINANCIAL STATEMENTS, & CERTAIN RELATED DISCLOSURES.SAEXPLORATION HOLDINGS INC - IS WORKING AS EXPEDITIOUSLY AS POSSIBLE TO PREPARE RESTATEMENT AND RELATED DISCLOSURES.SAEXPLORATION HOLDINGS INC - IS WORKING AS EXPEDITIOUSLY AS POSSIBLE TO TO TAKE CERTAIN RELATED STEPS TO REMEDIATE THE RELATED MATERIAL WEAKNESSES.SAEXPLORATION- REQUESTED WAIVER OF EVENTS OF DEFAULT UNDER TERM LOAN AGREEMENT & ABL AGREEMENT, WILL BE REQUESTING COMPARABLE WAIVER UNDER INDENTURES.SAEXPLORATION-EXPECTS THAT IT WILL NOT BE ABLE TO TIMELY DELIVER UNAUDITED FINANCIAL STATEMENTS FOR MONTH ENDED JULY 30 OR MONTH ENDING AUG 31, 2019.SAEXPLORATION-REQUESTING THAT AGENTS, REQUIRED LENDERS UNDER TERM LOAN,ABL AGREEMENT CONSENT TO GRANTING ADDITIONAL TIME TO CO TO MAKE SUCH DELIVERIES.SAEXPLORATION- EVALUATING ALL OF OPTIONS TO ADDRESS MATURITY OF 10% NOTES, OF WHICH THERE WERE $7 MILLION OUTSTANDING AS OF MARCH 31, 2019, ON SEPT 24.  Full Article

SAExploration Says Michael Faust has been named Chairman of Board
Friday, 16 Aug 2019 

Aug 16 (Reuters) - SAExploration Holdings Inc ::SAEXPLORATION ANNOUNCES SEC INVESTIGATION; ESTABLISHMENT OF SPECIAL COMMITTEE; RESTATEMENT OF HISTORICAL FINANCIAL STATEMENTS; APPOINTMENT OF INTERIM CFO.APPOINTMENT OF INTERIM CFO.MICHAEL FAUST HAS BEEN NAMED CHAIRMAN OF BOARD, REPLACING JEFF HASTINGS.COMPANY EXPECTS TO NAME A NEW CHIEF EXECUTIVE OFFICER IN NEAR FUTURE.SAEXPLORATION-TO RESTATE PREVIOUSLY ISSUED FINANCIAL STATEMENTS FOR FY ENDED DEC.31 2015 - 2018 & FOR QTRS STARTING ENDED JUNE 30, 2015 - MARCH 31, 2019.AS A RESULT, FINANCIAL STATEMENTS FOR NON-RELIANCE PERIOD SHOULD NO LONGER BE RELIED UPON.KEVIN HUBBARD HAS BEEN NAMED INTERIM CHIEF FINANCIAL OFFICER, REPLACING BRENT WHITELEY, WHO HAS BEEN TERMINATED.SAYS WILL DELAY FILING ITS 10-Q FOR QUARTER ENDED JUNE 30, 2019.U.S SEC IS CONDUCTING AN INVESTIGATION OF COMPANY RELATING TO CERTAIN ACCOUNTING MATTERS THAT AROSE IN 2015-2016.SAEXPLORATION HOLDINGS - BOARD HAS ESTABLISHED SPECIAL COMMITTEE OF INDEPENDENT DIRECTORS TO OVERSEE CO'S OWN INTERNAL INVESTIGATION, RESPONSE TO SEC.SAEXPLORATION HOLDINGS - BOARD'S DECISION TO RESTATE FINANCIAL STATEMENTS AROSE FROM RE-EVALUATION OF ITS RELATIONSHIP WITH ALASKA SEISMIC VENTURES.  Full Article

Saexploration Announces Q1 Earnings Per Share $0.26
Monday, 13 May 2019 

May 13 (Reuters) - SAExploration Holdings Inc ::SAEXPLORATION ANNOUNCES FIRST QUARTER 2019 UNAUDITED CONSOLIDATED FINANCIAL RESULTS.Q1 REVENUE ROSE 151.6 PERCENT TO $93.4 MILLION.Q1 EARNINGS PER SHARE $0.26.CONTRACTED BACKLOG OF $183.9 MILLION THROUGH Q1 2020.EXPECTS TO COMPLETE APPROXIMATELY 81% OF PROJECTS IN ITS BACKLOG AS OF MARCH 31, 2019 DURING REMAINDER OF 2019.  Full Article

SAExploration Announces $60 Million Of New Projects In Alaska And Southeast Asia
Thursday, 7 Mar 2019 

March 7 (Reuters) - SAExploration Holdings Inc ::SAEXPLORATION ANNOUNCES $60 MILLION OF NEW PROJECTS IN ALASKA AND SOUTHEAST ASIA.SAEXPLORATION HOLDINGS - NEW ALASKA PROJECT IS EXPECTED TO BE A MULTI-SEASON PROGRAM, WITH SOME OPERATIONS DURING H1 2019 AND REMAINING IN Q1 2020.  Full Article

Saexploration Announces Letter Of Award For $100 Million Marine Project In South Asia
Wednesday, 3 Oct 2018 

Oct 3 (Reuters) - SAExploration Holdings Inc ::SAEXPLORATION ANNOUNCES LETTER OF AWARD FOR $100 MILLION MARINE PROJECT IN SOUTH ASIA.SAEXPLORATION HOLDINGS - PROJECT IS EXPECTED TO COMMENCE LATE IN Q4 OF 2018 AND IS EXPECTED TO CONCLUDE IN Q2 OF 2019.  Full Article

Bluemountain Capital Management Llc Reports 9.9 Pct Stake In Saexploration Holdings
Friday, 14 Sep 2018 

Sept 14 (Reuters) - SAExploration Holdings Inc ::BLUEMOUNTAIN CAPITAL MANAGEMENT LLC REPORTS A 9.9 PCT STAKE IN SAEXPLORATION HOLDINGS AS OF SEPT. 6 - SEC FILING.BLUEMOUNTAIN CAPITAL MANAGEMENT LLC PREVIOUSLY REPORTED A 16.2 PERCENT STAKE IN SAEXPLORATION HOLDINGS AS OF MARCH 6.  Full Article

Saexploration Announces Proposed Private Offering Of $50 Million Convertible Secured Notes
Thursday, 26 Jul 2018 

SAExploration Holdings Inc ::SAEXPLORATION ANNOUNCES PROPOSED PRIVATE OFFERING OF $50 MILLION CONVERTIBLE SECURED NOTES.SAEXPLORATION HOLDINGS INC - INTENDS TO OFFER $50 MILLION AGGREGATE PRINCIPAL AMOUNT OF 6.0% CONVERTIBLE SECURED NOTES DUE 2023 IN A PRIVATE OFFERING.  Full Article

SAExploration Announces Entry Of Sale Order And Agreement For Bridge Financing To Fund Geokinetics Asset Acquisition
Friday, 20 Jul 2018 

July 20 (Reuters) - SAExploration Holdings Inc ::SAEXPLORATION ANNOUNCES ENTRY OF SALE ORDER AND AGREEMENT FOR BRIDGE FINANCING TO FUND GEOKINETICS ASSET ACQUISITION.SAEXPLORATION - INTENDS TO USE NEW BORROWINGS TO FINANCE PURCHASE PRICE OF ACQUISITION OF GEOK'S ASSETS AND TO PAY RELATED TRANSACTION COSTS.SAEXPLORATION HOLDINGS - DEAL IN PRINCIPAL WITH SOME OF EXISTING LENDERS TO FUND $25 MILLION IN OF BORROWINGS.SAEXPLORATION - U.S. BANKRUPTCY COURT ENTERED AN ORDER APPROVING AGREEMENT BETWEEN UNIT AND GEOKINETICS.  Full Article

SAExploration Announces Upsize Of Credit Facility And Redemption Of Senior Notes
Monday, 9 Jul 2018 

July 9 (Reuters) - SAExploration Holdings Inc ::SAEXPLORATION ANNOUNCES UPSIZE OF CREDIT FACILITY AND REDEMPTION OF SENIOR NOTES.SAEXPLORATION HOLDINGS INC - ON JULY 5, 2018 IT AMENDED ITS EXISTING CREDIT AGREEMENT TO INCREASE LENDERS' MAXIMUM COMMITMENT TO $30 MILLION.SAEXPLORATION HOLDINGS INC - IN CONNECTION WITH AMENDMENT, SAE HAS DRAWN AN ADDITIONAL $10 MILLION IN BORROWINGS.SAEXPLORATION HOLDINGS- INTENTION TO REDEEM REMAINING $1.8 MILLION OUTSTANDING AMOUNT OF ORIGINAL $150 MILLION OF 10.00% SENIOR SECURED NOTES DUE 2019.  Full Article

SAExploration Q1 Loss Per Share $3.79
Tuesday, 15 May 2018 

May 15 (Reuters) - SAExploration Holdings Inc ::SAEXPLORATION ANNOUNCES FIRST QUARTER 2018 CONSOLIDATED FINANCIAL RESULTS.Q1 REVENUE FELL 56.9 PERCENT TO $37.1 MILLION.Q1 LOSS PER SHARE $3.79.AS OF MARCH 31, 2018, SAE'S BACKLOG WAS $35.3 MILLION.SAEXPLORATION HOLDINGS - SAE CURRENTLY EXPECTS TO SUBSTANTIALLY COMPLETE ALL OF PROJECTS IN BACKLOG ON MARCH 31, 2018 DURING REMAINDER OF 2018.  Full Article

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