Quantum prices unregistered private placement of 10,615,712 shares at $9.42 each, raises $100 million

Quantum Corporation

Quantum Corporation

QMCO

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  • Quantum priced a private placement of 10,615,712 unregistered common shares at USD 9.42, targeting USD 100 million in gross proceeds.
  • Net proceeds of about USD 94.7 million earmarked to repay all outstanding term debt, with remaining funds for working capital.
  • Dialectic Technology SPV agreed to convert all Senior Secured Convertible Notes into equity at USD 5.194 per share, issuing 14,104,620 shares.
  • Dialectic to receive a warrant for 105,911 shares at a USD 5.194 exercise price in connection with the conversion.
  • Financing designed to eliminate debt obligations, shifting the company toward a net cash position.


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