PIMCO Amends Quantum Corp 13D Filing

TL;DR

PIMCO just updated its Quantum Corp filing - something's up.

AI Summary

Pacific Investment Management Company LLC (PIMCO) has filed an amendment (Amendment No. 6) to its Schedule 13D for Quantum Corp, dated August 13, 2024. PIMCO, based in Newport Beach, CA, is reporting changes related to its beneficial ownership of Quantum Corp's common stock. The filing indicates a shift in PIMCO's holdings or intentions regarding the company.

Why It Matters

This filing signals a potential change in a significant investor's stake or strategy concerning Quantum Corp, which could impact the company's stock price and future direction.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in an activist investor's position or strategy, which can lead to increased volatility.

Key Numbers

• Amendment No. 6 — Filing Amendment (Indicates this is not the initial filing but a revision)

Key Players & Entities

• Pacific Investment Management Company LLC (company) — Filing entity
• Quantum Corp (company) — Subject company
• Zephram Yowell (person) — Authorized contact for PIMCO
• August 13, 2024 (date) — Date of event requiring filing

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $0.46 — e Common Stock), at a purchase price of $0.46 per share. The exercise price and the n
• $0.41 — of Common Stock at a purchase price of $0.41 per share. The exercise price and the n
• $25.0 million — ity in an aggregate principal amount of $25.0 million. The August 2024 Term Loan Amendment al
• $0.31 — of Common Stock at a purchase price of $0.31 per share, the closing price of the Com

Filing Documents

• d862636dsc13da.htm (SC 13D/A) — 54KB
• 0001193125-24-201499.txt ( ) — 56KB

of the original Schedule 13D, as amended, is hereby amended to add the following language

Item 3 of the original Schedule 13D, as amended, is hereby amended to add the following language: On May 24, 2024, the Company entered into an amendment and waiver (the May 2024 Term Loan Amendment) to the Term Loan Credit and Security Agreement, dated as of August 5, 2021 (as the same has been and may further be amended, modified, supplemented, renewed, restated or replaced from time to time, the Term Loan Credit Agreement), with Quantum LTO Holdings, LLC, a wholly-owned subsidiary of the Company (Quantum LTO), the other borrowers and guarantors from time to time party thereto, the lenders from time to time party thereto, and Blue Torch Finance LLC, as disbursing agent and collateral agent for such lenders. The May 2024 Term Loan Amendment, among other things, waives certain requirements to test certain financial covenants and any default that might arise as a result of the restatement of certain of the Companys historical financial statements. In connection with the May 2024 Term Loan Amendment, on May 24, 2024, the Company issued to the lenders of the term loans under the Term Loan Credit Agreement (including certain affiliates of the Reporting Person) warrants (the May 2024 Term Loan Warrants) to purchase an aggregate of 2,000,000 shares of the Companys common stock (the Common Stock), at a purchase price of $0.46 per share. The exercise price and the number of shares underlying the May 2024 Term Loan Warrants are subject to adjustment in the event of specified events, including dilutive issuances at a price lower than the exercise price of the May 2024 Term Loan Warrants, a subdivision or combination of the Common Stock, a reclassification of the Common Stock or specified dividend payments. Upon exercise, the aggregate exercise price may be paid, at each warrant holders election, in cash or on a net issuance basis, based upon the fair market value of the Common Stock at the time of exercise. On July 11, 2024, the Company entered into an amendment (the Jul

of the original Schedule 13D, as amended, is hereby amended to add the following language

Item 7 of the original Schedule 13D, as amended, is hereby amended to add the following language: Exhibit 99.10 Warrant to Purchase Common Stock, dated May 24, 2024, issued to OC III LVS XL LP (filed as Exhibit 4.2 to the Issuers Current Report on Form 8-K filed on May 29, 2024 and incorporated herein by reference). Exhibit 99.11 Warrant to Purchase Common Stock dated July 11, 2024, Warrant No. 2024-12, issued to OC III LVS XL LP (filed as Exhibit 4.1 to the Issuers Current Report on Form 8-K filed on July 12, 2024 and incorporated herein by reference). Exhibit 99.12 Warrant to Purchase Common Stock dated August 13, 2024, Warrant No. 2024-18, issued to OC III LVS XL LP (filed as Exhibit 4.2 to the Issuers Current Report on Form 8-K filed on August 14, 2024 and incorporated herein by reference). Exhibit 99.13 Amended and Restated Warrant to Purchase Common Stock June 1, 2023 (as amended and restated on August 13, 2024), Warrant No. 2023-2, issued to OC III LVS XL LP (filed as Exhibit 4.3 to the Issuers Current Report on Form 8-K filed on August 14, 2024 and incorporated herein by reference). Exhibit 99.14 Amended and Restated Warrant to Purchase Common Stock dated May 24, 2024 (as amended and restated on August 13, 2024), Warrant No. 2024-6, issued to OC III LVS XL LP (filed as Exhibit 4.4 to the Issuers Current Report on Form 8-K filed on August 14, 2024 and incorporated herein by reference). Exhibit 99.15 Amended and Restated Warrant to Purchase Common Stock dated July 10, 2024 (as amended and restated on August 13, 2024), Warrant No. 2024-12, issued to OC III LVS XL LP (filed as Exhibit 4.5 to the Issuers Current Report on Form 8-K filed on August 14, 2024 and incorporated herein by reference). -5- SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: August 15, 2024 PACIFIC INVESTMENT MANAGEMENT COMPANY LLC B

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View this SC 13D/A filing on SEC EDGAR