---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-200315"
form_type: "8-K"
ticker: "QMCO"
cik: "0000709283"
company_name: "QUANTUM CORP /DE/"
filed_at: "2024-08-14T23:59:59+00:00"
generated_at: "2026-05-31T09:30:10.461277+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Quantum enters $25M DDTL facility, amends term loans, issues 7.6M warrants; CFO Gianella named COO

## Summary
- New $25M delayed draw term loan facility with 12-14% SOFR + 6-8% PIK; matures Aug 5, 2026; amortizes at 5% from Sep 30, 2025.
- Issued warrants for 7,606,169 shares at $0.31 to term loan lenders; exercise price lowered on existing warrants covering 8,614,214 shares.
- Initial term loan interest rate set at 9.75% SOFR + 3.75% PIK with step-up/step-down based on net leverage ratio.
- Maximum total net leverage ratio covenant not tested until June 30, 2025; new minimum EBITDA covenant set for Dec 31, 2024 and Mar 31, 2025.
- CFO Kenneth P. Gianella appointed COO effective Aug 13, 2024, as required by the Term Loan Amendment.

## SEC filing metadata
- accession: 0001193125-24-200315
- form_type: 8-K
- ticker: QMCO
- cik: 0000709283
- company_name: QUANTUM CORP /DE/
- filed_at: 2024-08-14T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/709283/000119312524200315/0001193125-24-200315-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/709283/000119312524200315/d838107d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-200315
- JSON: https://secwatch.observer/filing/0001193125-24-200315.json
- Plain text: https://secwatch.observer/filing/0001193125-24-200315.txt

## Key facts
- Executive change
  Kenneth P. Gianella was appointed as Chief Operating Officer at QUANTUM CORP /DE/.
  - Action: appointed
  - Role: Chief Operating Officer
  source text: appointed Kenneth P. Gianella, the Chief Financial Officer of the Company, to also serve as the Chief Operating Officer of the Company, effective August 13, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/709283/000119312524200315/0001193125-24-200315-index.htm

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