Quantum raises $100M, converts $57M debt to equity, extends loan maturity to 2028

Filed June 2, 2026 · Period ending June 1, 2026 · ~1 min read

Key Changes

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  Quantum raised $100M gross ($94.7M net) by selling 10.6M shares at $9.42 to accredited investors, with proceeds earmarked to repay term debt and fund working capital. Transaction expected to close June 4, 2026.

  Item 1.01: Private Placement verify on EDGAR →
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  Dialectic Technology converted $57.2M of 10% PIK notes (principal plus interest) into common stock, receiving 3.1M additional shares worth $16M in future interest value plus a warrant for 105,911 shares at $5.19. Related-party transaction approved by special committee.

  Item 1.01: Conversion Agreement verify on EDGAR →
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  Term loan maturity extended to September 2028, with new flexibility to retain a portion of future equity proceeds instead of mandatory 100% debt prepayment, improving liquidity runway.

  Item 1.01: Sixteenth Amendment verify on EDGAR →