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HOUSTON, Dec. 21, 2020 (GLOBE NEWSWIRE)
SAExploration Holdings, Inc. ( SAE or the Company ) announced today that it has successfully completed its financial restructuring and emerged from Chapter 11 as a private, non-SEC reporting company. As a result of its plan of reorganization, which received broad support from its creditors, the Company has reduced its debt by approximately $74 million, net, thus positioning the Company for future growth. During the course of its restructuring, SAE continued to maintain global business as usual, preserving its strong relationships with its customers, vendors and employees for the Company s future. We are very pleased to have completed this efficient and consensual reorganization, and we look forward to working with our stakeholders and newly-appointed board members as a private company, said Michael J. Faust, CEO. I would like to thank our customers, vendors, and our employees whose dedication, patience and hard work have b