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Crossroads Systems Inc announces $4.3 mln private placement


Monday, 31 Mar 2014 04:15pm EDT 

Crossroads Systems Inc:Definitive securities purchase agreement with certain accredited investors for private placement of 1,886,622 common stock and warrants to purchase 943,311 shares of common stock.Warrant to purchase one-half of share of Crossroads common stock at exercise price of $2.46 per whole share.Each unit will be sold at price of $2.2565 per unit, resulting in proceeds to Crossroads of about $4.3 mln, before deducting expenses.Affiliates of Lone Star Value Management, LLC, of which Company's Chairman, Jeffrey E. Eberwein, serves as managing member, will purchase about $2.9 mln of Units.Roth Capital Partners acted as financial advisor to company in transaction. 

Company Quote

2.87
-0.08 -2.71%
11:16am EDT