Company Overview
| Company Name |
MITCHAM INDUSTRIES INC |
| Company Address |
8141 SH 75 SOUTH
PO BOX 1175
HUNTSVILLE, TX 77342 |
| Company Phone |
9362912277 |
| Company Website |
-- |
| CEO |
Billy F. Mitcham, Jr. |
| Employees (as of 1/31/2012) |
169 |
| State of Inc |
TX |
| Fiscal Year End |
1/31 |
| Status |
Filed (4/10/2012) |
| Symbol |
MIND |
| Exchange |
Nasdaq National Market |
| Share Price |
-- |
| Shares Offered |
-- |
| Offer Amount |
$150,000,000.00 |
| Total Expenses |
$41,000.00 |
| Shares Over Alloted |
-- |
| Shareholder Shares Offered |
-- |
| Shares Outstanding |
-- |
| Lockup Period (days) |
180 |
| Lockup Expiration |
-- |
| Quiet Period Expiration |
-- |
| CIK |
0000926423 |
Unless we inform you otherwise in a prospectus supplement, we intend to use
the net proceeds (after the payment of any offering expenses and/or
underwriting discounts and commissions) from the sale of the securities
offered hereby for general corporate purposes, including repayment or
refinancing of debt, acquisitions, working capital, capital expenditures,
and repurchases and redemptions of securities.
Any specific allocation of the net proceeds of an offering of securities
to a specific purpose will be determined at the time of the offering and
will be described in a prospectus supplement relating to such offering.
The precise amount and timing of the application of these proceeds will
depend upon our funding requirements and the availability and cost of other
funds.
Our major competitors include the major seismic equipment manufacturers who
sell equipment on financed terms and seismic contractors who might have excess
equipment available for lease from time to time. We face lesser competition
from several companies that engage in seismic equipment leasing, but this
competition has historically been fragmented and our competitors have not
had as extensive a seismic equipment lease pool nor as wide geographic
presence as we do. We compete for seismic equipment leases on the basis
of (i) price, (ii) delivery terms, (iii) availability of desired equipment
and (iv) location of equipment. We believe that our infrastructure and broad
geographic presence also provide a major competitive advantage by contributing
to our operational efficiencies.
We compete in the used equipment sales market with a broad range of seismic
equipment owners, including seismic data acquisition contractors, who use
and eventually dispose of seismic equipment. Some of these competitors may
have substantially greater financial resources than our own.
Company Description
We are engaged directly and through our wholly owned subsidiaries in the
lease and sale of geophysical and other equipment used primarily by seismic
data acquisition contractors to perform seismic data acquisition surveys on
land, in transition zones (marsh and shallow water areas) and deep
water
marine areas. We conduct our business on a worldwide basis and believe that
we are the world’s largest independent lessor of seismic equipment. We
operate in two business segments, equipment leasing and manufacturing.
We were incorporated in Texas in 1987. Our principal executive offices are
located at 8141 SH 75 South, P.O. Box 1175, Huntsville, Texas 77342.
Our telephone number is (936) 291-2277.