Quantum Corporation (QMCO) has released an update.
Quantum Corporation recently amended its Term Loan and Revolving Credit Agreements, providing notable waivers and modifications. Critical changes include the temporary suspension of GAAP compliance for recent financial statements and the non-testing of certain financial covenants. The company is also required to progress significantly in business initiatives and keep lenders updated, while incurring fees for these adjustments. These strategic financial maneuvers are essential for investors tracking the company’s fiscal management and covenant compliance.
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