Geospace Technologies secures $25 million revolving credit facility from Amerisource Funding
GEOS•Geospace Technologies entered a three-year, $25 million revolving credit agreement with Amerisource Funding, subject to a borrowing base. The facility refinanced $7.5 million outstanding under its Woodforest credit agreement.
1. Facility terms
The agreement, dated October 29, 2026, carries interest at the prime rate plus 3.5% annually and is secured by substantially all of the borrower’s assets, except certain excluded property. Fees include a 1% annual commitment fee, a 0.25% non-usage fee and early termination charges of up to 3% of the facility.
2. Requirements and defaults
The agreement requires minimum tangible net worth of $65 million. Defaults may trigger accelerated repayment and an 18% annual interest rate. The Woodforest credit agreement was terminated without material early termination penalties.
