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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 18, 2001
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CROSSROADS SYSTEMS, INC.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State of Other Jurisdiction of Incorporation)
000-30362 74-2846643
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(Commission File Number) (IRS Employer
Identification No.)
8300 North MoPac Expressway, Austin, Texas 78759
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(Address of Principal Executive Offices) (Zip Code)
(512) 349-0300
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(Registrant's Telephone Number, Including Area Code)
N/A
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(Former Name or Former Address, if Changed Since Last Report)
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ITEM 5. OTHER EVENTS.
On September 18, 2001, Crossroads Systems, Inc. announced that
its board of directors has approved a program for the repurchase up to $5.0
million of its issued and outstanding shares of common stock. The program is
effective as of September 19, 2001.
Stock repurchases will be made from time to time and
Crossroads' expects that all repurchases will be made within the next six
months. The repurchases will be effected on the open market or through privately
negotiated transactions. The stock repurchase program contemplates that the
repurchases will be made in accordance with Rule 10b-18 promulgated under the
Securities Act of 1934. The program does not require Crossroads to purchase any
specific number of shares, and any purchases under the program will depend on
market conditions. Crossroads may suspend or cancel the stock repurchase program
at any time or from time to time. A copy of the press release announcing the
stock repurchase program is attached hereto as Exhibit 99.1.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND
EXHIBITS.
(c) Exhibit 99.1. Press Release, dated September 18, 2001,
------------ announcing stock repurchase program.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CROSSROADS SYSTEMS, INC.
Dated: September 19, 2001 By: /s/ Brian R. Smith
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Brian R. Smith
Chief Executive Officer
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release, dated September 18, 2001, announcing
stock repurchase program