secwatch.observer — SEC 8-K summary
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Issuer:     QUANTUM CORP /DE/ (QMCO)
CIK:        0000709283
Form:       8-K
Filed at:   2024-03-25T23:59:59+00:00
Accession:  0001193125-24-076507
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/709283/000119312524076507/0001193125-24-076507-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/709283/000119312524076507/d818125d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-076507

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