-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, F2O0I0K3Gfl5cEyKmzpqLFjznvT0WpLAsS+xNm0/XuVhyDS5eEBWQcJLLKabWk7g IXvyGS1SWjUYTsMkSCmK2w== 0001047469-03-016472.txt : 20030502 0001047469-03-016472.hdr.sgml : 20030502 20030502144850 ACCESSION NUMBER: 0001047469-03-016472 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030502 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030502 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DOT HILL SYSTEMS CORP CENTRAL INDEX KEY: 0001042783 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER STORAGE DEVICES [3572] IRS NUMBER: 133460176 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13317 FILM NUMBER: 03679369 BUSINESS ADDRESS: STREET 1: 6305 EL CAMINO REAL CITY: CARLSBAD STATE: CA ZIP: 92009 BUSINESS PHONE: 2129894455 MAIL ADDRESS: STREET 1: 6305 EL CAMINO REAL CITY: CARLSBAD STATE: CA ZIP: 92009 FORMER COMPANY: FORMER CONFORMED NAME: BOX HILL SYSTEMS CORP DATE OF NAME CHANGE: 19970722 8-K 1 a2110149z8-k.htm FORM 8-K
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): May 2, 2003


Dot Hill Systems Corp.
(Exact name of registrant as specified in its charter)

Delaware   1-13317   13-3460176
(State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer
Identification No.)

6305 El Camino Real, Carlsbad, California

 

92009
(Address of principal executive offices)   (Zip Code)

Registrant's telephone number, including area code: (760) 931-5500

Not Applicable.
(Former name or former address, if changed since last report.)





Item 5. Other Events.

        On May 2, 2003, Dot Hill Systems Corp. (the "Company") announced it has converted all of its outstanding shares of preferred stock into 1,846,153 shares of common stock. The press release dated May 2, 2003 is attached as Exhibit 99.1 hereto and incorporated herein by reference.


Item 7. Financial Statements and Exhibits.

99.1   Press release of Dot Hill Systems Corp. dated May 2, 2003.

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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.

    DOT HILL SYSTEMS CORP.

 

 

By:

 

/s/  
PRESTON ROMM      
Preston Romm
Chief Financial Officer, Treasurer and Secretary
Date: May 2, 2003        

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INDEX TO EXHIBITS

99.1   Press release of Dot Hill Systems Corp. dated May 2, 2003.
        



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SIGNATURE
INDEX TO EXHIBITS
EX-99.1 3 a2110149zex-99_1.htm EXHIBIT 99.1
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Exhibit 99.1

Dot Hill Converts Preferred Stock into Common Stock

CARLSBAD, Calif.—May 2, 2003—Dot Hill Systems Corp. (AMEX: HIL) today announced it has converted all of its outstanding shares of preferred stock into 1,846,153 shares of common stock. The preferred shares were originally sold in a private placement in December 2002 and carried a 7 percent dividend. The preferred shares were converted into shares of Dot Hill's common stock at a per share price of $3.25. In accordance with the terms of the private placement, Dot Hill became entitled to convert the preferred shares into common stock as of the close of market on Thursday, May 1, 2003, at which point the market price of Dot Hill's common stock had exceeded $6.50 per share for 15 consecutive trading days.

"The structure of the private placement in December of last year was the right deal at the right time," said James Lambert, Dot Hill's president and CEO. "Converting the preferred shares to common stock allows us to eliminate further accrual of the 7 percent dividend rate and the other preferences attached to the preferred shares."

Dot Hill Systems Corp. is a leader in the innovative design and delivery of storage networking solutions to channel partners worldwide. Its products include the SANnet® family of storage systems, SANscape® storage management software, SANpath® storage networking software and professional training, support and service. For more information, visit Dot Hill on the web at www.dothill.com.

Dot Hill, the Dot Hill logo, SANnet, SANscape, and SANpath and are trademarks of Dot Hill Systems Corp. All other products and names mentioned herein are trademarks or registered trademarks of their respective owners.

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