Quantum Raises $90M From Secondary Offering For Debt Repayment
- Quantum Corp (NASDAQ: 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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Posted-In: Debt RepaymentNews Offerings Small Cap Tech Media
