SOURCE: Crossroads Systems

Crossroads Systems

August 30, 2011 17:00 ET

Crossroads Systems Registration Statement Declared Effective

AUSTIN, TX--(Marketwire - Aug 30, 2011) - Crossroads Systems, Inc.'s (PINKSHEETS: CRDS) (PINKSHEETS: CRDSD) Form S-1 registration statement filed with the U.S. Securities and Exchange Commission on May 11, 2011 has been declared effective.

The registration covers the resale by certain selling security holders of shares of common stock, warrants and shares of common stock issuable upon exercise of warrants in connection with a private placement Crossroads completed in October 2010. Crossroads is not selling any securities pursuant to the registration statement and will not receive any proceeds from the sale of the registered securities by the selling security holders, other than in connection with the exercise of the warrants. These underlying shares may in turn be sold by the selling security holders under the prospectus included in the registration statement.

Crossroads' common stock has been approved for listing on the Nasdaq Capital Market under the symbol "CRDS," and Crossroads expects for its common stock to begin trading on the Nasdaq Capital Market on September 2, 2011.

This press release does not constitute an offer to sell or solicit these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Crossroads Systems
Crossroads Systems, Inc. (PINKSHEETS: CRDS) (PINKSHEETS: CRDSD) is a global provider of solutions and services that ensure stored data is proactively protected and reliably recovered. Crossroads offers organizations powerful data protection, proactive data security, intelligent storage connectivity, unmatched performance, and significant cost savings. Founded in 1996 and headquartered in Austin, Texas, Crossroads holds more than 100 patents granted and pending and has been honored with numerous industry awards for innovation in data protection and storage. Visit

Important Cautions Regarding Forward-Looking Statements
This press release includes forward-looking statements that relate to the business and future events or future performance of Crossroads Systems, Inc. and involve known and unknown risks, uncertainties and other factors that may cause its actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "could," and similar expressions or phrases identify forward-looking statements. Forward-looking statements include, but are not limited to, statements about Crossroads Systems' ability to meet the eligibility criteria for the Nasdaq Capital Market or to otherwise meet applicable listing requirements and conditions, statements about Crossroads Systems' ability to implement its business strategy, including the transition from a hardware storage company to a software solutions and services provider, its ability to expand its distribution channels, its ability to maintain or broaden relationships with existing distribution channels and strategic alliances and develop new industry relationships, the performance of third parties in its distribution channels and of its strategic alliances, uncertainties relating to product development and commercialization, the ability to obtain, maintain or protect patent and other proprietary intellectual property rights, technological change in its industry, market acceptance of its products and services, future capital requirements, regulatory actions or delays, competition in general and other factors that may cause actual results to be materially different from those described herein. Forward-looking statements in this press release are based on management's beliefs and opinions at the time the statements are made. Crossroads Systems does not intend, and undertakes no duty, to update this information to reflect future events or circumstances.

©2011 Crossroads Systems, Inc. Crossroads and Crossroads Systems are registered trademarks of Crossroads Systems, Inc. All trademarks are the property of their respective owners. All specifications are subject to change without notice.

Contact Information

  • Investor Contact:
    Jennifer Crane
    Crossroads Systems
    Email Contact
    512.928.6897 or 800.643.7148

    Investor Contact:
    Scott Liolios or Matt Glover
    Liolios Group
    Email Contact

    Press Contact:
    Matthew Zintel
    Zintel Public Relations
    Email Contact