Quantum Announces Closing of Public Offering and Full Exercise of Greenshoe Option
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SAN JOSE, Calif., Feb. 8, 2021 /PRNewswire/ Quantum Corporation (Nasdaq: QMCO) ( Quantum ) today announced the closing of its underwritten public offering of 15,109,489 shares of its common stock, which includes the full exercise of the underwriters option to purchase 1,970,803 additional shares of common stock, at a public offering price of $6.85 per share. All of the shares in the offering were sold by Quantum. The gross proceeds to Quantum from the offering, before deducting the underwriting discounts and commissions and other offering expenses, were approximately $103.5 million. 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.
Operator
Good afternoon and welcome to SiTime s fourth-quarter 2020 financial results conference call. [Operator instructions]. I would now like to turn the call over to Leanne Sievers of Shelton Group, Investor Relations. Leanne, please go ahead.
Leanne Sievers
Investor Relations
Good afternoon and welcome to SiTime s fourth-quarter 2020 financial results conference call. On the call from SiTime are Rajesh Vashist, chief executive officer; and Art Chadwick, chief financial officer. Before we begin, I d like to point out that during the course of this call, the company may make forward-looking statements regarding expected future results, including financial position, strategy, and plans, future operations, the timing, market, and other areas of discussion. It is not possible for the company s management to predict all risks, nor can the company assess the impact of all factors on its business or the extent to which any factor or combination of factors may cause actual resu
The bequest of Covid
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If the Covid experience leads to greater acceptance of human impact on the environment and triggers impactful climate action, we will be able to say that something good came of an otherwise forgettable year
As we go into the first WEF Summit outside Davos and prepare to discuss the idea of “Better Capitalism”, the spectre of Covidś seems to be finally receding in many parts of the world. In India, we hope the vaccine will drive the final nail into the virus’ coffin and in the US and the UK, we are depending on the vaccine to bring the still marauding virus to a screeching halt. A sense of hope is creeping into 2021 after a truly
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This post originally appeared on Grist. Grist is a nonprofit news agency working toward a planet that doesn t burn and a future that doesn t suck. Sign up to receive Grist s top stories in your inbox. Listen to the science isn t just a bumper sticker anymore it s official White House policy.
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Quantum Reports 14% Sequential Growth in Third Quarter Fiscal 2021
Represents Second Consecutive Quarter of Sequential Growth; Business Transformation Continues with Addition of New Software Solutions
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SAN JOSE, Calif., Jan. 27, 2021 /PRNewswire/ Quantum Corporation (NASDAQ: QMCO) announced today financial results for its fiscal third quarter ended December 31, 2020.
Third Quarter Fiscal 2021 Financial Summary
Revenue grew 14% sequentially to $98.0 million
Gross margin was 43.1%
Non-GAAP adjusted net income improved to $0.01 million, $0.00 per share
Adjusted EBITDA increased $0.6 million sequentially to $9.4 million
Jamie Lerner, Chairman and CEO, Quantum commented, Revenue in the third quarter once again exceeded our guidance due to continued growth across our traditional market verticals, including with our hyperscale customers, as well as an initial recovery in our Media and Entertainment business, coupled