December 17, 2025 — Leads & Copy — Quantum Corporation (Nasdaq: QMCO) announced that all matters brought before the Company’s Annual Meeting of Shareholders held on December 16, 2025 were approved. This includes the proposal to issue senior secured convertible notes (Convertible Notes) to Dialectic Technology SPV LLC (Dialectic) in a dollar-for-dollar exchange for approximately $55 million of term debt held by Dialectic. Following the exchange, Dialectic will be entitled to acquire shares of Quantum’s common stock upon the conversion of the Convertible Notes.
Hugues Meyrath, CEO of Quantum, expressed gratitude to the shareholders for their strong support in approving the strategic debt exchange. He said that the exchange significantly strengthens their balance sheet by eliminating approximately 50% of their outstanding term loan debt. Meyrath added that following this transaction, the Company will have eliminated $140 million in total debt from its balance sheet since its peak debt in 2020. He stated that this move underscores their focused commitment toward strengthening their overall financial position and liquidity, while also providing financial and operational flexibility to accelerate innovation in AI-driven data management solutions and delivering long-term shareholder value.
The Convertible Notes will mature on the third anniversary of the closing and will have an interest rate of 10% per annum, payable in kind, compounded annually. The initial conversion price of the Convertible Notes will be $10.00 per share of common stock (Conversion Price), subject to adjustment for stock splits and similar events. The Conversion Price is also subject to adjustment on the last day of each calendar quarter for three consecutive quarters following closing, but in any event the Conversion Price will not be reset below $4.00 per share of common stock.
Following the six-month anniversary of closing, if certain conditions are met, the Company may elect to require the conversion of a portion of the total outstanding amount of any Convertible Notes into shares of common stock at the then current Conversion Price.
Quantum delivers end-to-end data management solutions designed for the AI era. With over four decades of experience, their data platform has allowed customers to extract the maximum value from their unique, unstructured data. From high-performance ingest that powers AI applications and demanding data-intensive workloads, to massive, durable data lakes to fuel AI models, Quantum delivers the most comprehensive and cost-efficient solutions. Leading organizations in life sciences, government, media and entertainment, research, and industrial technology trust Quantum with their most valuable asset – their data.
Quantum is listed on Nasdaq (QMCO). Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.
Source: Quantum Corporation
