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23.09.25 - 14:36
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Quantum Enters into Definitive Agreement with Dialectic and Other Lenders to Restructure Term Debt (Business Wire)
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Transaction Represents Key Milestone Toward Eliminating Outstanding DebtSAN JOSE, Calif.--(BUSINESS WIRE)--Quantum Corporation (Nasdaq: QMCO) ("Quantum" or the "Company"), a leader in solutions for AI and unstructured data, today announced it has entered into a definitive agreement (the “Transaction Agreement”) to restructure the Company's outstanding term debt held by Dialectic Technology SPV LLC (“Dialectic”) and certain other lenders. In addition, Quantum amended its existing term loan credit and security agreement with its current term loan lenders to remove the financial covenants therein.
Highlights of Transaction:
Ability for Dialectic term debt of approximately $52 million to be exchanged for senior secured convertible notes that have a three-year maturity (the “Debt Exchange”)
Eliminates existing requirement that capital raised to date through the Company's Standby Equity Purchase Agreement (the “SEPA”) be used to repay the existing term loan
Allows up to an ...
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22.09.25 - 23:27
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Altera Appoints Sandeep Nayyar as Chief Financial Officer (Business Wire)
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SAN JOSE, Calif.--(BUSINESS WIRE)--Altera Corporation, the world's largest independent provider of pure-play FPGA solutions, today announced the appointment of Sandeep Nayyar as Chief Financial Officer.
Nayyar brings more than three decades of financial leadership experience and a strong track record of driving growth, profitability, and strategic transformation across the semiconductor, storage and life sciences industries. He joins Altera from Power Integrations where he has served as CFO since 2010. In that role, Nayyar led the company through a sustained period of growth and operational excellence while overseeing finance, human resources, and corporate development.
Previously, Nayyar held senior finance roles at Applied Biosystems and Quantum Corporation, where he played a key role in the expansion of each company's addressable market and led successful sale transactions to Life Technologies (now part of Thermo Fisher Scientific) and Maxtor (later acquired by Seagate), respectively.
“Sandeep is a...
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