SAN JOSE, Calif., Feb. 3, 2021 /PRNewswire/ -- Quantum
Corp. (Nasdaq: QMCO) ("Quantum") today announced that it
intends to offer shares of its common stock for sale in an
underwritten public offering. All of the shares in the offering are
being offered by Quantum. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering. Quantum intends to use all of the net
proceeds of the offering to repay a portion of the indebtedness
under its senior secured term loan.
B. Riley Securities, Inc. and Oppenheimer & Co. Inc. are
acting as joint book-running managers for the offering. Lake Street
Capital Markets, LLC, Craig-Hallum Capital Group LLC and Northland
Capital Markets, are acting as co-managers for the offering.
A shelf registration statement (File No. 333-250976) relating to
the shares was previously filed with the Securities and Exchange
Commission (the "SEC") and became effective on December 9, 2020. The offering will be made only
by means of a written prospectus and prospectus supplement that
form a part of the registration statement. Copies of the
preliminary prospectus supplement and accompanying prospectus
relating to the offering will be filed with the SEC and, when
available, may be obtained by contacting: B. Riley Securities,
Inc., Attention: Prospectus Department, 1300 North 17th Street,
Suite 1300, Arlington, Virginia
22209, or by telephone at 703-312-9580 or by email at
prospectuses@brileyfin.com or Oppenheimer & Co. Inc.,
Attention: Syndicate Prospectus Department, 85 Broad Street, 26th
Floor, New York, New York 10004,
by telephone at 212-667-8055, or by email at
EquityProspectus@opco.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Quantum
Quantum technology and services help customers capture, create
and share digital content – and preserve and protect it for
decades. With solutions built for every stage of the data
lifecycle, Quantum's platforms provide the fastest performance for
high-resolution video, images, and industrial IoT. That's why
the world's leading entertainment companies, sports franchises,
researchers, government agencies, enterprises, and cloud providers
are making the world happier, safer, and smarter on Quantum.
Quantum is listed on Nasdaq (QMCO) and was added to the Russell
2000® Index in 2020.
Quantum and the Quantum logo are registered trademarks of
Quantum Corporation and its affiliates in the United States and/or other countries.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may be identified by use of terms such as
"will," "expect," "shall," and similar terms or the negative of
such terms, and include, without limitation, statements about the
Company's expectations regarding the completion, terms, size, and
timing of the public offering. Actual results or developments may
differ materially from those projected or implied in these
forward-looking statements. Factors that may cause such a
difference include risks and uncertainties related to completion of
the public offering on the anticipated terms or at all, market
conditions and the satisfaction of customary closing conditions
related to the public offering. More information about the risks
and uncertainties faced by Quantum is contained in the section
captioned "Risk Factors" in the prospectus supplement related to
the public offering and from time to time in the Company's
Securities and Exchange Commission filings, including its Annual
Report on Form 10-K for the fiscal year ended March 31, 2020, its Quarterly Report on Form 10-Q
for the quarter ended December 31,
2020, as well as subsequent SEC filings. The forward-looking
statements contained in this release are as of the date of this
release, and the Company does not undertake any obligation to
update any such statements, whether as a result of new information,
future events or otherwise.
Investor Relations Contact:
Shelton Group
Leanne K. Sievers, President
P: 949-224-3874
E: sheltonir@sheltongroup.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/quantum-announces-proposed-public-offering-of-common-stock-301221661.html
SOURCE Quantum Corp.