ION Geophysical Corporation, I/O Marine Systems Ltd, I/O Cayman Islands Ltd, ION International S.à.r.l. and I/O Marine Systems, Inc. filed a revised asset purchase agreement in the US Bankruptcy Court for the sale of certain assets on August 11, 2022. As per the agreement dated July 21, 2022, seeks the Court's approval for the sale of certain assets to DigiCourse LLC, for a purchase price $1 million plus assumed liabilities. The debtor's assets include Devices assets.

Buyer deposited with U.S. Bank National Association, in its capacity as escrow agent, the sum of $0.05 million by wire transfer. The seller is represented by Dan McGuire and J. Eric Johnson of Winston & Strawn LLP as its legal advisors and the buyer is represented by Tracy Cui.