13D Filing: True Wind Capital, L.p. and Zix Corp (NASDAQ:ZIXI)

Names of
Reporting Persons.

Zephyr Holdco, LLC

Check the Appropriate Box if a Member
of a Group (See Instructions)

(a)  ☐        (b)  ☐

SEC Use Only

Source of Funds (See Instructions)

OO

Check if Disclosure of Legal
Proceedings Is Required Pursuant to Items 2(d) or 2(e)

☐

Citizenship or Place of
Organization

Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with:

Sole Voting Power

0

Shared Voting Power

10,782,865 (1)

Sole Dispositive Power

0

Shared Dispositive Power

10,782,865 (1)

Aggregate Amount Beneficially Owned by Each Reporting Person

10,782,865 (1)

Check if the Aggregate Amount in Row
(11) Excludes Certain Shares (See Instructions)

☐

Percent of Class Represented by Amount
in Row (11)

19.9% (1)

Type of Reporting Person (See
Instructions)

OO

Represents 64,914 shares of Series A Convertible Preferred Stock, par value $1.00 (Series A Preferred
Stock), of Zix Corporation (the Issuer) convertible into shares of common stock, par value $0.01 per share (Common Stock), based on the current accreted value of such shares, subject to a share issuance limitation
preventing the Issuer from issuing shares totaling more than 19.9% of the Issuers outstanding shares of Common Stock as of January 14, 2019 (10,783,050 shares), subject to approval of the Issuers stockholders permitting issuances in
excess of such limitation. See Item 5.