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

By Staff,

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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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: ZAZA

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