Quantum enters $200M equity purchase agreement with Yorkville; obtains debt covenant waivers

QUANTUM CORP /DE/

Standby Equity Purchase Agreement (SEPA) with YA II PN, Ltd.; up to $200M of common stock over 36 months.
Shares sold at 96% of VWAP (Option 1) or 97% of lowest daily VWAP over 3 days (Option 2).
Exchange cap at 1,157,139 shares (19.99% of outstanding) unless shareholder approval or avg price >$32.57.
Amendments to Term Loan and Revolver credit agreements waive minimum EBITDA test for Dec 31, 2024 and Mar 31, 2025, and waive defaults.
Proceeds intended to repay debt and for working capital; company cites efforts to lower debt and interest costs.

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