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January 3, 1997updated 05 Sep 2016 12:27pm


By CBR Staff Writer

3-D Geophysical Inc, Englewood, Colorado got its offer of 3.5m shares – reduced from 4.3m – away at $7.50 per share, and looks for net proceeds of $23.9m. It wants the cash to buy additional seismic data acquisition systems and related vehicles and equipment, and to fund part of the purchase price for a Canadian seismic exploration business J R S Exploration Co Ltd. Proceeds will also be used to repay debts incurred in connection with the purchase in May 1996 of two 24-bit seismic data acquisition systems; anything left foes to working capital. The underwriters were not identified.

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