Quantum Raises $90M From Secondary Offering For Debt Repayment

by Anusuya Lahiri, Benzinga Staff Writer
February 4, 2021 11:46 AM | 1 min read |
  • Quantum Corp QMCO priced 13.138 million shares at $6.85 per share under a secondary offering to rake in gross proceeds of $90 million.
  • Additionally, Quantum has approved the underwriters to procure additional shares of up to 1.97 million at the public offering price under a 30-day option.
  • The company proposes to use the offering proceeds for debt repayment, and the offering is likely to close by February 8, 2021.
  • B. Riley Securities and Oppenheimer are the joint book-running managers for the offering.
  • Price action: QMCO shares are up 5.87% at $7.58 on the last check Thursday.
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