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ZaZa Energy Will Convert Subordinated Notes

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February 25, 2014

Founders of ZaZa Energy Corp. (NasdaqCM: ZAZA) agreed to convert $47.3 million in subordinated notes into a combination of common shares and a new series of perpetual preferred stock, the company said Feb. 25.

Shareholders of the notes to be converted will receive about 3.16 million common shares, valued at $0.9495 each, the company said. The amount of shares to be received is based on the volume weighted average price per share for ten trading days preceding the agreement, the company noted.

The new series of perpetual preferred stock has ...

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