As part of the Energy XXI’s plan of reorganization effective December 30, 2016, prior shares of EXXIQ are in the process of being extinguished and those shareholders shall not receive or retain any distribution, property or other value because of their prior holdings.
Energy XXI has 2,119,889 warrants outstanding with a strike price of $43.66. The warrants have a five-year term that expires on December 30, 2021. Energy XXI’s warrants are traded on the OTC Market under the symbol “EGXGW”. The warrants are exercisable for one share of the Company’s common stock per warrant.