---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-076507"
form_type: "8-K"
ticker: "QMCO"
cik: "0000709283"
company_name: "QUANTUM CORP /DE/"
filed_at: "2024-03-25T23:59:59+00:00"
generated_at: "2026-06-04T08:50:32.329145+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Quantum receives Nasdaq delisting notice; amends credit agreements to permit up to $15M asset sale

## Summary
- Received Nasdaq delisting notice on Mar 19 due to bid price <$1 for >30 days and failure to timely file Q3 and Q4 FY2024 Form 10-Qs.
- Timely requested hearing on Mar 21, staying delisting; stock remains listed pending hearing outcome.
- Sixth Amendment to Term Loan Agreement permits sale of service inventory up to $15M; proceeds over $2.5M must prepay loans.
- Amended Revolving Credit Agreement with PNC to permit asset sale; $102,352.29 amendment fee from proceeds.

## SEC filing metadata
- accession: 0001193125-24-076507
- form_type: 8-K
- ticker: QMCO
- cik: 0000709283
- company_name: QUANTUM CORP /DE/
- filed_at: 2024-03-25T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/709283/000119312524076507/0001193125-24-076507-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/709283/000119312524076507/d818125d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-076507
- JSON: https://secwatch.observer/filing/0001193125-24-076507.json
- Plain text: https://secwatch.observer/filing/0001193125-24-076507.txt

## Key facts
- Listing & Compliance Notices
  QUANTUM CORP /DE/ received a nasdaq noncompliance notice notice regarding late filing (rules 5250(c)(1)).
  - Exchange: nasdaq
  - Notice: noncompliance notice
  - Deficiency: late filing
  - Rules: 5250(c)(1)
  source text: March 19, 2024, Quantum Corporation (the “Company”) received a letter (the “Letter”) from the listing qualifications staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company’s common stock would be delisted, based upon the Company’s non-compliance with the $1.00 bid price requirement for continued listing on the Nasdaq Global Market, as set forth in Nasdaq Listing Rules 5450(a)(1) (the “Bid Rule”). The Letter stated that the Company’s common stock would be scheduled for delisting at the opening of business on March 28, 2024, unless the Company timely requests a hearing be
  evidence_url: https://www.sec.gov/Archives/edgar/data/709283/000119312524076507/0001193125-24-076507-index.htm
- Listing & Compliance Notices
  QUANTUM CORP /DE/ received a nasdaq delisting notice notice regarding minimum bid price (rules 5450(a)(1)).
  - Exchange: nasdaq
  - Notice: delisting notice
  - Deficiency: minimum bid price
  - Rules: 5450(a)(1)
  source text: March 19, 2024, Quantum Corporation (the “Company”) received a letter (the “Letter”) from the listing qualifications staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) that the Company’s common stock would be delisted, based upon the Company’s non-compliance with the $1.00 bid price requirement for continued listing on the Nasdaq Global Market, as set forth in Nasdaq Listing Rules 5450(a)(1) (the “Bid Rule”). The Letter stated that the Company’s common stock would be scheduled for delisting at the opening of business on March 28, 2024, unless the Company timely requests a hearing be
  evidence_url: https://www.sec.gov/Archives/edgar/data/709283/000119312524076507/0001193125-24-076507-index.htm
- Material Agreements
  QUANTUM CORP /DE/ amended Term Loan Amendment with Blue Torch Finance LLC (effective 2024-03-22).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Blue Torch Finance LLC
  - Effective: 2024-03-22
  source text: On March 22, 2024, Quantum Corporation (the “Company”) entered into an amendment (the “Term Loan Amendment”) to the Term Loan Credit and Security Agreement, dated as of August 5, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/709283/000119312524076507/0001193125-24-076507-index.htm
- Material Agreements
  QUANTUM CORP /DE/ amended Revolver Amendment with PNC Bank, National Association (effective 2024-03-22).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association
  - Effective: 2024-03-22
  source text: On March 22, 2024, the Company entered into an amendment (the “Revolver Amendment”) to the Amended and Restated Revolving Credit and Security Agreement, dated as of December 27, 2018
  evidence_url: https://www.sec.gov/Archives/edgar/data/709283/000119312524076507/0001193125-24-076507-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.