09:05 AM EDT, 09/23/2025 (MT Newswires) -- Quantum (QMCO) said Tuesday it has agreed to restructure its outstanding term debt held by Dialectic Technology and other lenders.

Under the terms of the agreement, Dialectic Technology can exchange term debt of about $52 million for senior secured convertible notes that have a three-year maturity, Quantum said.

The agreement also eliminated an existing requirement that capital raised to date through the company's standby equity purchase agreement will be used to repay the term loan, Quantum said.

Quantum further said it has issued Dialectic Technology a warrant to purchase about 2.7 million shares of the company.

Shares of Quantum were up nearly 4% in recent Tuesday premarket trading.