ION Geophysical Shares Up; Announced It Will Review Strategic Alternatives

By Stephen Nakrosis

Shares of ION Geophysical Corp. are trading higher after hours Wednesday, following its announcement that its board has started a process to evaluate strategic alternatives.

These measures could include a possible sale or business combination deal, sale of assets, debt financing, as well as other options, the company said.

At 5:48 p.m. ET, ION's shares were trading 16% higher at $1.75 each. Volume at the time topped 357,000 shares.

The stock finished the day's regular-trading session with a 5.06% loss, closing at $1.50 a share.

ION said it delivers "data-driven decision-making to offshore energy and maritime operations markets."

Write to Stephen Nakrosis at [email protected]