SEC Form 4 · accession 0001415889-15-002504
CROSSROADS SYSTEMS INC · CRSS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Jeffrey E. Eberwein
Director · 10% Owner
Lone Star Value Investors LP
10% Owner
Lone Star Value Investors GP LLC
10% Owner
Lone Star Value Management LLC
10% Owner
Period of report
Jul 28, 2015
Accepted (ET)
Jul 30, 2015 · 9:50 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001093207
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jul 28, 2015 | M | 11,381 | $1.25 | A | 34,144 | D | |
| Common StockF1,F2 | Jul 28, 2015 | X | 1,526,526 | $1.25 | A | 4,579,578 | I | By: Lone Star Value Investors, LP |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Subscription Rights (right to buy) | $1.25 | Jul 28, 2015 | M | 22,763 | D | Jul 7, 2015 | Jul 28, 2015 | Common Stock | 11,381 | 0 | D |
| Subscription Rights (right to buy)F2 | $1.25 | Jul 28, 2015 | X | 3,053,052 | D | Jul 7, 2015 | Jul 28, 2015 | Common Stock | 1,526,526 | 0 | I |
Explanation of responses
- F1This Form 4 is filed jointly by Lone Star Value Investors, LP ("Lone Star Value Investors"), Lone Star Value Investors GP, LLC ("Lone Star Value GP"), Lone Star Value Management, LLC ("Lone Star Value Management") and Jeffrey E. Eberwein (collectively, the "Reporting Persons"). Mr. Eberwein is a director of the Issuer and each Reporting Person is a member of a reporting group that owns in the aggregate more than 10% of the Issuer's outstanding shares of Common Stock. Each Reporting Person disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such shares of Common Stock for purposes of Section 16 or for any other purpose.
- F2Securities owned directly by Lone Star Value Investors. Lone Star Value GP, as the general partner of Lone Star Value Investors, may be deemed the beneficial owner of the securities owned by Lone Star Value Investors. Lone Star Value Management, as the investment manager of Lone Star Value Investors, may be deemed the beneficial owner of the securities owned by Lone Star Value Investors. Mr. Eberwein, as the manager of Lone Star Value GP and sole member of Lone Star Value Management, may be deemed the beneficial owner of the securities owned by Lone Star Value Investors.