A Pillsbury team in Silicon Valley led by Corporate partner Jim Masetti advised Quantum Corporation in the closing of its recent Rights Offering. Through broad participation from outside investors and with all eligible directors and officers participating, the Rights Offering was substantially oversubscribed, resulting in the company raising the maximum available of $67.5 million and issuing 30 million shares, according to a press release.
Quantum intends to use the net proceeds for the repayment of $20 million of its outstanding indebtedness, to improve the strength of its balance sheet and for working capital and other general corporate purposes.
In addition to Masetti, the Pillsbury team included Corporate partners Davina Kaile and Julie Park, and associates JP Cordon and Grace Lee, and Tax partner C. Brian Wainwright.
For more about this transaction, please see Quantum’s press release.