MIND Technology Sells Klein Marine Systems to General Oceans

(24/7 MARKET NEWS) – MIND Technology, Inc. (NASDAQ: MIND) stated, this morning, that it sold its Klein Marine Systems unit for $11.5 million to General Oceans, Inc., a subsidiary of General Oceans AS, and licensed its Spectral Ai software suite to General Oceans for certain applications, particularly side-scan sonar. MIND and General Oceans have also entered into a Collaboration Agreement for the further development of Spectral Ai and potentially other software projects.

MIND Technology is trading at $0.67, up $0.07 (+13.08%), on 190.89K premarket shares traded.

Its 52-week range is $0.37 to $0.89. Its next key resistance points are 70-cents, 57-cents and this morning’s premarket high of $0.771.

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