Current Report Filing (8-k)
January 07 2020 - 8:31AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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) January 7, 2020
CROSSROADS LIQUIDATING TRUST
(Exact
name of registrant as specified in its chapter)
Maryland
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000-53504
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82-6403908
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(State
or other jurisdiction
Of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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128
N. 13th Street, #1100
Lincoln,
Nebraska 68508
(Address
of principal executive offices and zip code)
|
Registrant’s
telephone number, including area code (402)
261-5345
Check
the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Solicitation material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
|
|
Trading
Symbol
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|
Name of each exchange on which registered
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None
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None
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None
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Crossroads
Liquidating Trust (the “Liquidating Trust”) has reported that it has completed the disposition of its investment
in Spark Networks SE (NYSE American: LOV) (“Spark”). In July 2019, one of the Liquidating Trust’s portfolio
companies, Zoosk, Inc. (“Zoosk”), was acquired by Spark. In the transaction, all of the Liquidating Trust’s
shares of preferred stock in Zoosk were cancelled in exchange for 193,793 American Depository Shares (“ADSs”) in
Spark and $1,624,093 in cash consideration, $146,987 of which is subject to holdback and escrow restrictions until December
31, 2020 (the “Restricted Consideration”). There is no assurance that the Liquidating Trust will receive any or
all of such Restricted Consideration.
As
of December 31, 2019, the Liquidating Trust has sold its position in Spark ADSs for total net proceeds of $972,702.
The
Liquidating Trust will issue an annual information statement to the holders of beneficial interest in the Liquidating Trust with
information for their 2019 tax returns as soon as practicable. Additional information may be found in the Liquidating Trust’s
Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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CROSSROADS
LIQUIDATING TRUST
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|
|
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Date: January
7, 2020
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By:
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/s/
Ben H. Harris
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Ben H. Harris
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Administrator
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Crossroads Capital, Inc. (NASDAQ:XRDC)
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