CROSSROADS CAPITAL, INC. (NASDAQ:XRDC) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Item 3.01.
Notice of Delisting or Failure to Satisfy a Continued
Listing Rule or Standard; Transfer of Listing
On June 2, 2017, stockholders of Crossroads Capital, Inc. (the
Company) approved the voluntary delisting of the common stock of
the Company from NASDAQ. Following the special meeting of
stockholders, the Board of Directors of the Company authorized
the delisting and the Company provided notice to NASDAQ of the
voluntary delisting. NASDAQ will suspend trading of shares of
common stock of the Company following the close of business on
June 12, 2017. The Company expects the delisting to be effective
on June 22, 2017.
On June 2, 2017, the Company issued a press release announcing
the voluntary delisting from NASDAQ. A copy of the press release
is included herewith as Exhibit 99.1 and incorporated herein by
reference.
| Item 5.07. |
Submission of Matters to a Vote of Security Holders |
Special Meeting
At the Special Meeting of Stockholders held on June 2, 2017, the
following matters were acted upon:
1. Stockholders approved the withdrawal of the Companys election
to be regulated a business development company under the
Investment Company Act of 1940. The results of the vote are as
follows:
| Votes For | Votes Against | Abstentions |
| 5,133,411 | 228,108 | 223,674 |
2. Stockholders approved any adjournments of the Special Meeting
to permit time to voluntarily delist the Company from NASDAQ and
to begin the process of withdrawing its election to be regulated
as a business development company. The results of the vote are as
follows:
| Votes For | Votes Against | Abstentions |
| 5,301,885 | 237,827 | 45,481 |
The Company will reconvene the Special Meeting on June 23, 2017,
at 10:00 a.m. Central Time at 128 N. 13th St, #1100,
Lincoln, Nebraska 68508.
Annual Meeting
At the Annual Meeting of Stockholders held on June 2, 2017, the
following matters were acted upon:
1. Three directors were elected for one-year terms. The results
of the vote are as follows:
| Nominee | Votes For | Withheld |
| Phillip Goldstein | 4,426,685 | 72,995 |
| Andrew Dakos | 4,420,858 | 78,822 |
| Gerald Hellerman | 4,424,059 | 75,621 |
2. The selection of Tait, Weller Baker, LLP as the Companys
independent registered accounting firm for the fiscal year ending
December 31, 2017 was ratified. The results of the vote are as
follows:
| Votes For | Votes Against | Abstentions |
| 7,661,033 | 16,105 | 17,646 |
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release dated June 2, 2017 |
About CROSSROADS CAPITAL, INC. (NASDAQ:XRDC)
Crossroads Capital, Inc., formerly BDCA Venture, Inc., is an internally managed, non-diversified, closed-end management investment company. The Company’s investment objective to preserve capital and maximize stockholder value by pursuing the sale of its portfolio investments, limiting expenses and deploying surplus cash as appropriate, including into yielding investments to offset, in part, operating expenses. The Company holds equity investments in approximately 12 portfolio companies, one of which is publicly traded, and 11 of which are private companies. The Company’s investments consist of securities issued by private and publicly traded companies consisting of preferred stock, common stock, subordinated convertible bridge notes, subordinated secured notes and warrants to purchase common and preferred stock. CROSSROADS CAPITAL, INC. (NASDAQ:XRDC) Recent Trading Information
CROSSROADS CAPITAL, INC. (NASDAQ:XRDC) closed its last trading session down -0.02 at 2.18 with 26,491 shares trading hands.
