QUANTUM CORP /DE/

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.

Quantum Corporation announced a series of transactions to significantly strengthen its balance sheet and provide capital for growth. This includes a private placement of common stock expected to raise $100 million in gross proceeds, which will be used to repay all existing term debt. Additionally, Dialectic Technology SPV LLC will convert its outstanding convertible notes into common stock, effectively eliminating the company's debt obligations. The company also released preliminary Q4 FY2026 financial results, showing revenue above guidance.