<SEC-DOCUMENT>0001193125-21-323808.txt : 20211109
<SEC-HEADER>0001193125-21-323808.hdr.sgml : 20211109
<ACCEPTANCE-DATETIME>20211109075131
ACCESSION NUMBER:		0001193125-21-323808
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20211109
DATE AS OF CHANGE:		20211109

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MIND TECHNOLOGY, INC
		CENTRAL INDEX KEY:			0000926423
		STANDARD INDUSTRIAL CLASSIFICATION:	SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812]
		IRS NUMBER:				760210849
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-260486
		FILM NUMBER:		211389920

	BUSINESS ADDRESS:	
		STREET 1:		2002 TIMBERLOCH PLACE, SUITE 400
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77380-1187
		BUSINESS PHONE:		281-353-4475

	MAIL ADDRESS:	
		STREET 1:		2002 TIMBERLOCH PLACE, SUITE 400
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77380-1187

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MITCHAM INDUSTRIES INC
		DATE OF NAME CHANGE:	19940706

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MIND TECHNOLOGY, INC
		CENTRAL INDEX KEY:			0000926423
		STANDARD INDUSTRIAL CLASSIFICATION:	SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL SYS [3812]
		IRS NUMBER:				760210849
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		2002 TIMBERLOCH PLACE, SUITE 400
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77380-1187
		BUSINESS PHONE:		281-353-4475

	MAIL ADDRESS:	
		STREET 1:		2002 TIMBERLOCH PLACE, SUITE 400
		CITY:			THE WOODLANDS
		STATE:			TX
		ZIP:			77380-1187

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MITCHAM INDUSTRIES INC
		DATE OF NAME CHANGE:	19940706
</SEC-HEADER>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>FREE WRITING PROSPECTUS </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed pursuant to Rule 433 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration Statement <FONT STYLE="white-space:nowrap">No.&nbsp;333-260486</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>November&nbsp;8, 2021 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PRICING TERM SHEET </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MIND
TECHNOLOGY, INC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9.00% Series A Cumulative Preferred Stock </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Liquidation Preference $25.00 per Share) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B>Issuer:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">MIND Technology, Inc. (the &#147;<U>Company</U>&#148;)</TD></TR>
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<TD VALIGN="top"><B>Securities Offered:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">9.00% Series A Cumulative Preferred Stock, par value $1.00 per share (the &#147;<U>Series A Preferred Stock</U>&#148;).</TD></TR>
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<TD VALIGN="top"><B>Number of Shares:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">432,000 shares.</TD></TR>
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<TD VALIGN="top"><B>Number of Optional Shares:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">64,800 shares.</TD></TR>
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<TD VALIGN="top"><B>Public Offering Price:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$24.25 per share of Series A Preferred Stock; $10,476,000 total (assuming no exercise of the underwriter&#146;s option to purchase additional shares of Series A Preferred Stock).</TD></TR>
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<TD VALIGN="top"><B>Underwriting Discounts:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$1.33375 per share; $576,180 total (assuming no exercise of the underwriter&#146;s option to purchase additional shares).</TD></TR>
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<TD VALIGN="top"><B>Maturity Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Perpetual (unless redeemed by the Company or in connection with a change of control).</TD></TR>
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<TD VALIGN="top"><B>Ratings:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Series A Preferred Stock will not be rated.</TD></TR>
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<TD VALIGN="top"><B>Trade Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">November&nbsp;9, 2021.</TD></TR>
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<TD VALIGN="top"><B>Settlement Date:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">November&nbsp;12, 2021 (T+2).</TD></TR>
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<TD VALIGN="top"><B>Liquidation Preference:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">$25.00 per share of Series A Preferred Stock.</TD></TR>
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<TD VALIGN="top"><B>Dividend Rate:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">9.00% per annum for cash payment, based on liquidation preference of $25.00 per share of Series A Preferred Stock.</TD></TR>
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<TD VALIGN="top"><B>Dividend Payment Dates:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Dividends are payable quarterly on or about the last day of January, April, July and October of each year to holders of record on the 15th day of January, April, July and October. Dividends on the Series A Preferred Stock accumulate
at a rate of 9.00% per annum per $25.00 stated liquidation preference per share of Series A Preferred Stock.</TD></TR>
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<TD VALIGN="top"><B>Optional Redemption:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Company shall have the option to redeem the Series A Preferred Stock, in whole or in part or upon a change of control at the liquidation preference of $25.00 per share, plus accrued but unpaid dividends.</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Change of Control</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><B>Share
Cap:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">25 shares of common stock, par value $0.01 per share, of the Company, subject to pro rata adjustments for any share splits (including those effected pursuant to a distribution of the Company&#146;s common stock), subdivisions or
combinations with respect to the Company&#146;s common stock.</TD></TR></TABLE>
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<TD VALIGN="top">Upon such a conversion, the holders of Series A Preferred Stock will be limited to a maximum number of shares of the Company&#146;s common stock equal to the Share Cap multiplied by the number of shares of Series A Preferred Stock
converted. If the price of the Company&#146;s common stock is less than $1.00, subject to adjustment, the holders will receive a maximum of 25 shares of the Company&#146;s common stock per share of Series A Preferred Stock, which may result in the
holders of Series A Preferred Stock receiving common stock with a value that is less than the liquidation preference of the Series A Preferred Stock.</TD></TR>
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<TD VALIGN="top"><B>CUSIP/ISIN:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">602566 200 / US6025662007</TD></TR>
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<TD VALIGN="top"><B>Sole Underwriter:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Ladenburg Thalmann&nbsp;&amp; Co. Inc.</TD></TR>
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<TD VALIGN="top"><B>Listing:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">The Series A Preferred Stock trades on the NASDAQ Global Select Market with the trading symbol &#147;MINDP&#148;.</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>ADDITIONAL INFORMATION</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>All information (including financial information) presented in the Preliminary Prospectus is deemed to have changed to the extent affected by the changes
described herein. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This communication is intended for the sole use of the person to whom it is provided by us. This communication does not constitute
an offer to sell the shares and is not soliciting an offer to buy the shares in any jurisdiction where the offer or sale is not permitted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company
has filed a registration statement (including a preliminary prospectus) with the Securities and Exchange Commission (the &#147;SEC&#148;) for the offering to which this communication relates. Before you invest, you should read the prospectus in that
registration statement and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, the Company, the underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it from Ladenburg Thalmann&nbsp;&amp; Co. Inc. by phone at (631)
<FONT STYLE="white-space:nowrap">270-1611,</FONT> or by email at prospectus@ladenburg.com. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ANY DISCLAIMER OR OTHER NOTICES THAT MAY&nbsp;APPEAR BELOW ARE
NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED, SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM. </P>
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