HOUSTON–(BUSINESS WIRE)–Swift Energy Company (OTC PINK: SFYW) (the Company) announced today
that it has reached an agreement with holders of a majority of its
senior notes to convert all senior notes to equity pursuant to the terms
of a restructuring support agreement signed today. Under the agreement,
existing equity holders are to retain four percent of the Companys
equity on a fully diluted basis, subject only to dilution as a result of
a proposed new management incentive program. In addition to the retained
equity, existing equity holders are also to receive warrants for up to
30% of the post-petition equity exercisable upon the Company reaching
certain b…
Read the full article at: http://www.businesswire.com/news/home/20151231005305/en/Swift-Energy-Company-Enters-Comprehensive-Restructuring-Support