Quantum Corporation (NYSE:QTM) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Item 5.03 Amendments to Articles of Incorporation or Bylaws;
Change in Fiscal Year.
Certificate of Amendment (the Certificate of Amendment) to its
Amended and Restated Certificate of Incorporation, as amended
(the Certificate of Incorporation) to effect a 1-for- 8 reverse
stock split (the reverse stock split). The Certificate of
Amendment, and therefore, the reverse stock split, will be
effective at 8:00 p.m. Eastern Time on April 18, 2017 and the
Companys common stock will begin trading on a split-adjusted
basis on April 19, 2017. The Companys common stock trades on the
New York Stock Exchange and will continue to trade under the
symbol QTM with new CUSIP number 747906501.
stock will be automatically combined into one share, with no
change in par value. The reverse stock split will reduce the
number of shares of the company’s outstanding common stock from
approximately 273 million shares to approximately 34 million
shares. No fractional shares will be issued as a result of the
reverse stock split, and stockholders who otherwise would be
entitled to a fractional share will receive a cash payment.
other effects of the reverse stock split can be found in
Quantum’s definitive proxy statement filed with the Securities
and Exchange Commission on March 6, 2017. The amendment to the
Amended and Restated Certificate of Incorporation was approved by
the Companys stockholders at the Companys annual meeting of
stockholders held on March 31, 2017.
hereto.
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Exhibit
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Description
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3.1
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Certificate of Amendment
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About Quantum Corporation (NYSE:QTM)
Quantum Corporation focuses on scale-out storage, archive and data protection, providing solutions for capturing, sharing, managing and preserving digital assets over the entire data lifecycle. The Company’s end-to-end tiered storage solutions enable users to maximize the value of their data by making it accessible whenever and wherever needed, retaining it indefinitely and reducing total cost and complexity. It works with a network of distributors, value-added resellers (VARs), direct marketing resellers (DMRs), original equipment manufacturers (OEMs) and other suppliers to meet customers’ evolving needs. Its scale-out storage portfolio includes StorNext software, appliances and full systems called StorNext Pro Solutions, as well as Xcellis workflow storage, QXS disk storage, Lattus extended online storage and Q-Cloud Archive and Vault services. Its StorNext offerings enable customers to manage large unstructured data sets in an information workflow. Quantum Corporation (NYSE:QTM) Recent Trading Information
Quantum Corporation (NYSE:QTM) closed its last trading session up +0.015 at 0.855 with 634,520 shares trading hands.
