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Nano-cap SAExploration Holdings, Inc. (NASDAQ:SAEX) shares have spiked by 37% in extended-market trading after the company announced that it has received around $24.4 million of tax credit certificates from Alaska’s Department of Revenue. As a result of having received the tax credit certificates, SAExploration has been granted access to the remaining $15 million of funding under a senior loan facility. CEO Jeff Hastings said:

“We are very pleased that we have begun to receive tax credit certificates from the State of Alaska sooner than expected and access to the remaining $15.0 million under our Senior Loan Facility ensures our ability to progress through the receipt and monetization of the remaining tax credits. We believe the value that can ultimately be derived from these tax credit certificates, and those yet to be issued, will be highly accretive to the company and to our stockholders.”
Five funds tracked by Insider Monkey held shares of SAExploration Holdings, Inc. (NASDAQ:SAEX) valued at $74,000 in aggregate, having amassed 3.70% of the company’s float on June 30.

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