Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Taina Rosa, Olivia Thomas
09.29.25
Pillsbury advised Quantum Corporation, a leader in solutions for AI and unstructured data, in entering into a definitive agreement to restructure its outstanding term debt held by Dialectic Technology SPV LLC and certain other lenders.
The transaction enables the exchange of approximately $52 million in existing term debt for senior secured convertible notes with a three-year maturity, while eliminating prior restrictions requiring standby equity purchase agreement (SEPA)-raised capital to repay the loan. It also allows Quantum to retain up to $15 million in additional SEPA proceeds for working capital and general corporate purposes, removes existing leverage and liquidity covenants, and includes the issuance of a warrant to Dialectic for over 2.6 million shares of common stock.
To learn more, click here.
The Pillsbury deal team was led by Corporate partners Jim Masetti and Drew Simon-Rooke and included partner Julie Park, counsel Brandon Eckford and associates Chantele Karim and Tess Beimler; and Tax partner Brian Wainwright.