Mitcham IndustriesInc. filed a prospectus statement for the offering of up to 500,0009.00% series A cumulative preferred shares with a liquidation preference of $25per share.

Dividends on the series A preferred shares will be payablequarterly on or about the last day of January, April, July and October of each year.

The company plans to use the net proceeds from the offering,after deducting the agent's commissions and offering expenses, for general corporatepurposes such as repayment of indebtedness, acquisitions, capital expenditures andadditions to working capital.

The series A preferred shares are listed on the NASDAQGlobal Select Market under the symbol MINDP.

Ladenburg Thalmann & Co. Inc. is acting as underwriterfor the offering. American Stock Transfer & Trust Co. LLC serves as the registrar,transfer agent and dividend and redemption price disbursing agent of the seriesA preferred shares.