ZaZa Energy Bottoms Out to 52-Week Low; Prices $40 Mln Offering Due 2017

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ZaZa Energy Corp. ( ZAZA ) dropped to a new 52-week low of $1.74 today, though its currently trading down 6.4% to $1.77. The company announced the pricing of its offering of $40 million aggregate amount of convertible senior notes due 2017 in a private placement to qualified institutional buyers and accredited investors.

ZAZA intends to use the net proceeds to fund drilling capital expenditures and leasehold transactions and for general corporate purposes.

ZAZA has fallen 64% in the last 12 months, and trades in a 52-week range of $1.74 - $5.18.

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This article appears in: Investing , Commodities


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