Quantum reports $26.1M cash, $87.9M debt; sells assets for $15M, Nasdaq delisting stay granted

QUANTUM CORP /DE/

Cash and equivalents $26.1M; term loan $87.9M; revolver borrowings $26.6M; Q4 interest $4.1M.
Sold service inventory for ~$15M on Apr 2, used proceeds to pay down ~$12.3M debt.
Nasdaq granted stay of delisting pending hearing on May 14, 2024; working to regain compliance.
Board member Marc Rothman retiring by Aug 31, 2024 or annual meeting; director search underway.
Completed new ERP system implementation; expects reduced capex and operational efficiencies.

item 2.02 item 5.02 item 9.01

Executive movements

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Departed

Marc E. Rothman

Member of the Board of Directors

QMCO · QUANTUM CORP /DE/

Filed: April 12, 2024, 7:59 PM ET

On April 8, 2024, Marc E. Rothman, a member of the Board of Directors (the “Board”) of the Company, informed the Company of his decision to retire from the Board, effective as of the earlier of August 31, 2024 and the date of the Company’s 2024 annual meeting of stockholders.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

QUANTUM CORP /DE/ reported preliminary financial results for the quarter ended March 31, 2024.

Period: the quarter ended March 31, 2024
Result: preliminary results

Exact text from the filing

On April 12, 2024, Quantum Corporation (the “Company”) provided an update on its liquidity for the quarter ended March 31, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Marc E. Rothman retired as Member of the Board of Directors at QUANTUM CORP /DE/.

Action: retired
Role: Member of the Board of Directors

Exact text from the filing

On April 8, 2024, Marc E. Rothman, a member of the Board of Directors (the “Board”) of the Company, informed the Company of his decision to retire from the Board, effective as of the earlier of August 31, 2024 and the date of the Company’s 2024 annual meeting of stockholders.

View on SEC.gov

322 earnings releases filed in the last 30 days. Browse all earnings releases →

QUANTUM CORP /DE/ filing history →

Source: SEC EDGAR

accession 0001193125-24-094785

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