|Bid||2.02 x 200|
|Ask||2.49 x 100|
|Day's Range||2.25 - 2.40|
|52 Week Range||1.45 - 7.42|
|PE Ratio (TTM)||-2.16|
|Earnings Date||Jun 2, 2017 - Jun 5, 2017|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||75.00|
AUSTIN, Texas, Aug. 14, 2017 /PRNewswire/ -- Crossroads Systems, Inc., (CRDS) today announced that it has filed a case under Chapter 11 of the Bankruptcy Code and a prepackaged Chapter 11 plan of reorganization ("Plan") that has been accepted by the holders of more than 2/3 of the Preferred Shares of CRDS. In connection with the filing, the company entered into restructuring support agreements with 210/CRDS Investment LLC ("210") and with certain holders of the Company's Series F Preferred Stock. Subject to the terms and conditions of the Plan and the restructuring support agreement with 210 ("210 RSA"), Dallas-based 210 will invest $4 million cash in Crossroads Systems in exchange for shares of the reorganized company's common stock representing approximately 49.49% of the common stock of the reorganized company. In addition, 210 will provide up to $10 million of financing for the company to use (subject to the terms and conditions of the Plan and the 210 RSA) to implement its strategy of monetizing its intellectual property assets and pursuing investments in companies that generate profit and positive cash flows, thus creating long-term shareholder value.
Texas data storage and data management company Crossroads Systems has filed for bankruptcy as part of a broader plan to reshuffle ownership and receive a $4 million cash infusion to pay for future acquisitions....
Research Desk Line-up: Crossroads Systems Post Earnings Coverage LONDON, UK / ACCESSWIRE / June 14, 2017 / Pro-Trader Daily publishes post-earnings coverage on Pure Storage, Inc. (NYSE: PSTG ) following ...