 HOUSTON, April 20, 2021 GLOBE NEWSWIRE -- ION Geophysical Corporation NYSE: IO the Company or ION today announced the successful completion of its previously announced offer to exchange the Exchange Offer the Companys 9.125 Senior Secured Second Priority Notes due 2021 the Old Notes for newly issued 8.00 Senior Secured Second Priority Notes due 2025 the New Notes and the other consideration in the form of cash and ION common stock, as described in the Companys Prospectus dated as of March 10, 2021 the Exchange Offer Prospectus and its previously announced rights offering the Rights Offering to its holders of common stock, par value 0.01 per share the Common Stock to purchase i 2.78 principal amount of the New Notes per Right, at a purchase price of 100 of the principal amount thereof or ii 1.08 shares of Common Stock per Right, at a purchase price of 2.57 per whole share of Common Stock, as described in the Companys Prospectus dated as of March 10, 2021 the Rights Offering Prospectus and, together with the Exchange Offer Prospectus, the Prospectuses. 