Quantum extends covenant test deadline; issues 1M share warrants to lenders

QUANTUM CORP /DE/

Total net leverage ratio for fiscal Q2 2024 not tested until July 31, 2024.
Revolver amendment extends deadline for subsequent amendment to July 31, 2024.
Issued warrants to term loan lenders for 1,000,000 shares of common stock.
Amendments include fees and expenses paid to administrative agent for lenders.
Company must make substantial progress on business initiatives by July 18, 2024.

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