Deal sells 1.5 million shares at $0.92 per share to CEO Todd A. Brooks
By Devika Patel
Knoxville, Tenn., Aug. 22 - ZaZa Energy Corp. completed a $1.38 million private placement of stock with its president and chief executive officer Todd A. Brooks on Aug. 21, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 1.5 million common shares at $0.92 apiece. The price per share is a 6.98% premium to the Aug. 20 closing share price of $0.86.
Proceeds will be used to acquire oil and gas properties.
Houston-based ZaZa is an onshore oil and gas exploration and development company.
| Issuer: | ZaZa Energy Corp.
|
| Issue: | Common stock
|
| Amount: | $1.38 million
|
| Shares: | 1.5 million
|
| Price: | $0.92
|
| Warrants: | No
|
| Investor: | Todd A. Brooks
|
| Settlement date: | Aug. 21
|
| Stock symbol: | Nasdaq: ZAZA
|
| Stock price: | $0.86 at close Aug. 20
|
| Market capitalization: | $105.84 million
|
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