Loan & DebtJun 5, 2026, 04:07 PM
Quantum Corp Terminates $57.8M Credit Agreement, Convertible Notes
AI Summary
Quantum Corporation announced the termination of several material definitive agreements. The company paid $57.8 million to terminate its Term Loan Credit and Security Agreement, covering outstanding principal, accrued interest, and fees. Additionally, Quantum terminated its Standby Equity Purchase Agreement with Yorkville, with no amounts owed, and canceled all outstanding 10.00% PIK Senior Secured Convertible Notes due 2028, fully discharging the related Indenture. The company also set September 15, 2026, as the date for its 2026 annual meeting of stockholders, with a deadline of June 17, 2026, for stockholder proposals.
Key Highlights
- Quantum Corp paid $57.8 million to terminate its Term Loan Credit and Security Agreement.
- The payment included $56.0 million in outstanding principal, $1.5 million in accrued interest, and $0.3 million in fees.
- The Standby Equity Purchase Agreement (SEPA) with Yorkville was terminated, effective June 11, 2026, with no amounts owed.
- All outstanding 10.00% PIK Senior Secured Convertible Notes due 2028 were canceled, and the Indenture was discharged.
- The 2026 annual meeting of stockholders is set for September 15, 2026.
- Stockholder proposals for the annual meeting must be submitted by June 17, 2026.
Price Impact
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