SAExploration: Announces new financing & entry into comprehensive restructuring support agreement

SAE, announced on 9 Jul 17 that it has entered into a comprehensive restructuring support agreement (the “Restructuring Support Agreement”) with holders (the “Supporting Holders”) of approximately 66% of the par value of SAE’s 10.000% Senior Secured Notes due 2019 (the “Existing Notes”), pursuant to which the Supporting Holders and SAE have agreed to enter into and implement a proposed comprehensive restructuring of SAE’s balance sheet, which will include an agreement to fund up to $30 million in new capital, subject to the terms and conditions of the Restructuring Support Agreement, including the parties’ agreement to negotiate in good faith the definitive documentation in respect thereof.

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