Filing Details

Accession Number:
0001213900-22-045493
Form Type:
13D Filing
Publication Date:
2022-08-07 20:00:00
Filed By:
B. Riley Financial, Inc.
Company:
Quantum Corp (NASDAQ:QMCO)
Filing Date:
2022-08-08
SEC Url:
13D Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
B. Riley Financial, Inc 0 4,099,956 0 4,099,956 4,099,956 4.0%
B. Riley Securities, Inc 0 346,378 0 346,378 346,378 0.3%
BRF Investments 0 3,753,578 0 3,753,578 3,753,578 3.7%
Bryant R. Riley 925,515 4,099,956 925,515 4,099,956 5,025,471 4.9%
Filing
 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 7)

 

QUANTUM CORPORATION

(Name of Issuer)

 

Common stock, $0.01 par value per share

(Title of Class of Securities)

 

747906501

(CUSIP Number)

 

Bryant R. Riley

B. Riley Financial, Inc.

11100 Santa Monica Boulevard, Suite 800

Los Angeles, CA 90045

(818) 884-3737

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

August 5, 2022

(Date of Event Which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. 

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act.

 

 

 

 

 

 

CUSIP No. 747906501
1 

NAME OF REPORTING PERSONS

B. Riley Financial, Inc.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  (b)

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

AF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7 

SOLE VOTING POWER

0

8

SHARED VOTING POWER

4,099,956

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

4,099,956

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

4,099,956

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

4.0%*

14.

TYPE OF REPORTING PERSON

HC

 

* Percent of class is calculated based on 101,813,778 shares of common stock, par value $0.01 (the “Common Stock”), of Quantum Corporation (the “Issuer”) outstanding as of June 1, 2022 as reported by the Issuer on its Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on June 8, 2022 (the “10-K”).

 

2

 

 

CUSIP No. 747906501
1 

NAME OF REPORTING PERSONS

B. Riley Securities, Inc.

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  (b)

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

WC

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON

WITH
7 

SOLE VOTING POWER

0

8

SHARED VOTING POWER

346,378

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

346,378

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

346,378

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.3%*

14.

TYPE OF REPORTING PERSON

BD

 

*Percent of class is calculated based on 101,813,778 shares of Common Stock outstanding as of June 1, 2022 as reported by the Issuer on the 10-K.

 

3

 

 

CUSIP No. 747906501
1 

NAME OF REPORTING PERSONS

BRF Investments, LLC

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  (b)

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

WC

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7 

SOLE VOTING POWER

0

8

SHARED VOTING POWER

3,753,578

9

SOLE DISPOSITIVE POWER

0

10

SHARED DISPOSITIVE POWER

3,753,578

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

3,753,578

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

3.7%*

14.

TYPE OF REPORTING PERSON

OO

 

* Percent of class is calculated based on 101,813,778 shares of Common Stock outstanding as of June 1, 2022 as reported by the Issuer on the 10-K.

 

4

 

 

CUSIP No. 747906501
1 

NAME OF REPORTING PERSONS

Bryant R. Riley

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a)  (b)

3

SEC USE ONLY

 

4

SOURCE OF FUNDS

PF, AF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 

 

6

CITIZENSHIP OR PLACE OF ORGANIZATION

United States of America

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7 

SOLE VOTING POWER

925,515

8

SHARED VOTING POWER

4,099,956

9

SOLE DISPOSITIVE POWER

925,515

10

SHARED DISPOSITIVE POWER

4,099,956

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

5,025,471

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 

 

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

4.9%*

14.

TYPE OF REPORTING PERSON

IN

 

* Percent of class is calculated based on 101,813,778 shares of Common Stock outstanding as of June 1, 2022 as reported by the Issuer on the 10-K.

 

5

 

 

Preliminary Statement:

 

This Amendment No. 7 (the “Amendment”) hereby amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on April 6, 2020, as amended by Amendment No. 1 to Schedule 13D, filed with the SEC on April 28, 2020, by Amendment No. 2 to Schedule 13D, filed with the SEC on February 8, 2021, by Amendment No. 3 to Schedule 13D, filed with the SEC on April 28, 2021, by Amendment No. 4 to Schedule 13D, filed with the SEC on October 29, 2021, by Amendment No. 5 to Schedule 13D, filed with the SEC on April 28, 2022, and by Amendment No. 6 to Schedule 13D, filed with the SEC on June 10 , 2022 (as so amended, the “Schedule 13D”), relating to shares of Common Stock of Quantum Corporation, a Delaware corporation (the “Issuer” or “Company”). Capitalized terms used but not defined herein shall have the respective meanings set forth in the Schedule 13D. Except as otherwise described herein, the information contained in the Schedule 13D remains in effect.

   

ITEM 5. INTEREST OF SECURITIES OF THE ISSUER.

 

Item 5, Sections (a) and (b) and (e) of the Schedule 13D, and Schedules A and B are hereby amended and restated as follows:

 

(a) - (b)

 

1.As of the date hereof, BRS beneficially owned directly 346,378 shares of Common Stock, representing 0.3% of the Issuer’s Common Stock. BRF is the parent company of BRS. As a result, BRF may be deemed to indirectly beneficially own the Shares held by BRS.

 

2.As of the date hereof, BRFI beneficially owned directly 3,753,578 shares of Common Stock, representing 3.7% of the Issuer’s Common Stock. BRF is the parent company of BRFI. As a result, BRF may be deemed to indirectly beneficially own the Shares held by BRFI.

 

3.Bryant R. Riley may beneficially own 925,515 shares of Common Stock representing 0.9% of the Issuer’s Common Stock, of which (i) 832,729 shares are held jointly with his wife, Carleen Riley, (ii) 12,614 shares are held as sole custodian for the benefit of Abigail Riley, (iii) 12,613 shares are held as sole custodian for the benefit of Eloise Riley, (iv) 12,615 shares are held as sole custodian for the benefit of Susan Riley, and (v) 54,944 shares are held as sole trustee of the Robert Antin Children Irrevocable Trust. Bryant R. Riley may also beneficially own the 4,099,956 shares of Common Stock, representing 4.0% of the Issuer’s Common Stock, held directly by BRS or BRFI in the manner specified in paragraph (1) above. Bryant R. Riley disclaims beneficial ownership of the shares held by BRS and BRFI, or the Robert Antin Children Irrevocable Trust in each case except to the extent of his pecuniary interest therein.

 

(e) As of August 5, 2022, the Reporting Persons ceased to be the beneficial owner of more than five percent of the class of securities.

 

6

 

 

SIGNATURES

 

After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated: August 8, 2022

 

  B. RILEY FINANCIAL, INC.
   
  By: /s/ Bryant R. Riley 
  Name:  Bryant R. Riley 
  Title: Co-Chief Executive Officer
   
  B. RILEY SECURITIES, INC.
   
  By: /s/ Andrew Moore 
  Name: Andrew Moore
  Title: Chief Executive Officer
     
  BRF INVESTMENTS, LLC
   
  By: /s/ Phillip Ahn 
  Name: Phillip Ahn
  Title: Authorized Signatory
     
 

BRYANT R. RILEY

   
  By: /s/ Bryant R. Riley 

 

7

 

 

SCHEDULE A

 

Executive Officers and Directors of B. Riley Financial, Inc.

 

Name and Position   Present Principal Occupation   Business Address   Citizenship
Bryant R. Riley
Chairman of the Board of Directors and Co-Chief Executive Officer
  Chief Executive Officer of B. Riley Capital Management, LLC; Co-Executive Chairman of B. Riley Securities, Inc.; and Chairman of the Board of Directors and Co-Chief Executive Officer of B. Riley Financial, Inc.   11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025
  United States
Thomas J. Kelleher
Co-Chief Executive Officer and Director
  Co-Chief Executive Officer and Director of B. Riley Financial, Inc.; Co-Executive Chairman of B. Riley Securities, Inc.; and President of B. Riley Capital Management, LLC   11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025
  United States
Phillip J. Ahn
Chief Financial Officer and Chief Operating Officer
  Chief Financial Officer and Chief Operating Officer of B. Riley Financial, Inc.  

30870 Russell Ranch Rd

Suite 250

Westlake Village, CA 91362

  United States
Kenneth Young
President
  President of B. Riley Financial, Inc.; and Chief Executive Officer of B. Riley Principal Investments, LLC   11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025
  United States
Alan N. Forman
Executive Vice President, General Counsel and Secretary
  Executive Vice President, General Counsel and Secretary of B. Riley Financial, Inc.   299 Park Avenue, 21st Floor
New York, NY 10171
  United States
Howard E. Weitzman
Senior Vice President and Chief Accounting Officer
  Senior Vice President and Chief Accounting Officer of B. Riley Financial, Inc.  

30870 Russell Ranch Rd

Suite 250

Westlake Village, CA 91362

  United States
Robert L. Antin1
Director
  Co-Founder of VCA, Inc., an owner and operator of Veterinary care centers and hospitals   11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025
  United States
Tammy Brandt
Director
  Chief Legal Officer, Head of Business and Legal Affairs at FaZe Clan Inc.; a leading gaming, lifestyle, and media platform   11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025
  United States
Robert D’Agostino2
Director
  President of Q-mation, Inc., a supplier of software solutions   11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025
  United States
Renée E. LaBran
Director
  Founding partner of Rustic Canyon Partners (RCP), a technology focused VC fund  

11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025

 

  United States
Randall E. Paulson
Director
  Special Advisor to Odyssey Investment Partners, LLC, a private equity investment firm  

11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025

 

  United States
Michael J. Sheldon
Director
  Chairman and Chief Executive Officer of Deutsch North America, a creative agency – Retired  

11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025

 

  United States
Mimi Walters
Director
  U.S. Representative from California’s 45th Congressional District – Retired   11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025
  United States
Mikel Williams
Director
  Chief Executive Officer and Director of privately held Targus International, LLC, supplier of carrying cases and accessories   11100 Santa Monica Blvd.
Suite 800
Los Angeles, CA 90025
  United States

 

 
1As of the date hereof, Robert L. Antin directly owned 13,508 shares of Common Stock. The aggregate purchase price of the 13,508 shares of Common Stock that were purchased by Robert L. Antin with personal funds is approximately $33,770. Robert L. Antin has the sole power to vote and dispose of such Common Stock and the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, such Common Stock.

 

2As of the close of business on the date hereof, Robert D’Agostino directly owned 40,739 shares of Common Stock. The aggregate purchase price of the 40,739 shares of Common Stock that were purchased by Mr. D’Agostino with personal funds is approximately $81,228. Mr. D’Agostino has the sole power to vote and dispose of such Common Stock and the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, such Common Stock.

 

8

 

 

SCHEDULE B

 

Transactions within the Past 60 Days

  

Trade Date   Transaction   Amount of
Securities
  Price   Reporting Person
7/19/2022   Sale     72,767   $ 1.7621   B. Riley Securities, Inc.
7/20/2022   Sale     327,833   $ 1.8358   B. Riley Securities, Inc.
7/21/2022   Sale     200,880   $ 1.8808   B. Riley Securities, Inc.
7/22/2022   Sale     500   $ 1.94   B. Riley Securities, Inc.
8/3/2022   Sale     28,134   $ 1.9402   B. Riley Securities, Inc.
8/4/2022   Sale     53,634   $ 1.9419   B. Riley Securities, Inc.
8/5/2022   Sale     1,137,755   $ 1.8837   B. Riley Securities, Inc.

 

 

9