Company Also Confirms Plans to Redeem Remaining $57 Million With Existing Resources
SAN JOSE, Calif., Aug. 24, 2017 /PRNewswire/ — Quantum Corp. (NYSE: QTM) today announced that it recently purchased $6 million of its convertible notes due November 2017 in the open market, bringing its total purchases of the notes to approximately $13 million over the last nine months, all on favorable terms. Following the recent $6 million purchase, the total outstanding balance on the company’s convertible notes is $57 million.
“To date, we’ve been using cash flow from operations to purchase our convertible notes,” said Fuad Ahmad, senior vice president and CFO of…
Click here to read the rest of this post.