CUSIP No. 747906501
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1
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NAME OF REPORTING PERSONS:
180 Degree Capital Corp.
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) (b)
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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5
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SOLE VOTING POWER
0
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6
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SHARED VOTING POWER
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2,245,954 shares (1)
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7
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SOLE DISPOSITIVE POWER
0
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8
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SHARED DISPOSITIVE POWER
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2,245,954 shares (1)
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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2,245,954 shares (1)
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
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11
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PERCENT OF CLASS REPRESENTED IN ROW (9)
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5.5% (2)
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12
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IV, IA
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(1)180 has shared dispositive and voting power over 760,999 of these shares that are beneficially owned by a separately managed account ("SMA") through its position as Investment Manager of the SMA. 180 disclaims beneficial ownership of the shares owned by the SMA except for its pecuniary interest therein.
(2)Percent of class is calculated based on (i) 40,740,212 shares of common stock, par value $0.01 (the “Common Stock” or “Shares”), of Quantum Corporation (the “Issuer”) outstanding as of October 26, 2020 as reported in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) on October 28, 2020.
CUSIP No. 747906501
Item 1.
(a) Name of Issuer:
Quantum Corporation, a Delaware corporation
(b) Address of Issuer's Principal Executive Offices:
224 Airport Parkway, Suite 550
San Jose, California 95110
Item 2.
(a) Name of person filing:
180 Degree Capital Corp.
(b) Address or principal business office or, if non, residence:
7 N. Willow Street, Suite 4B
Montclair, NJ 07042
(c) Citizenship/State of Organization:
180 Degree Capital Corp. - New York
(d) Title of class of securities:
Common Stock
(e) CUSIP No.:
747906501
Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a) ☐ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
(b) ☐ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) ☐ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
(d) ☒ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).
(e) ☒ An investment adviser in accordance with section 240.13d-1(b)(1)(ii)(E);
(f) ☐ An employee benefit plan or endowment fund in accordance with section 240.13d-1(b)(1)(ii)(F);
(g) ☐ A parent holding company or control person in accordance with section 240.13d-1(b)(1)(ii)(G);
(h) ☐ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i) ☐ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j) ☐ Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Reference is hereby made to Items 5-9 and 11 of page 2 of this Schedule, which Items are incorporate by reference herein.
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: January 29, 2021
180 DEGREE CAPITAL CORP.
By: /s/ Daniel B. Wolfe
Name: Daniel B. Wolfe
Title: President
SCHEDULE A
Directors and Executive Officers of 180 Degree Capital Corp.
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Name
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Position and Present Principal Occupation
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Principal Business Address
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Citizenship
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Kevin M. Rendino
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Chairman of the Board of Directors and Chief Executive Officer
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7 N. Willow Street, Suite 4B, Montclair, NJ 07042
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USA
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Daniel B. Wolfe
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Director, President, Chief Financial Officer and
Chief Compliance Officer
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7 N. Willow Street, Suite 4B, Montclair, NJ 07042
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USA
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Alicia M. Gift
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Senior Controller and Secretary
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7 N. Willow Street, Suite 4B, Montclair, NJ 07042
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USA
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Robert E. Bigelow, III
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Vice President of Fund Development
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7 N. Willow Street, Suite 4B, Montclair, NJ 07042
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USA
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Stacy R. Brandom
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Independent Director
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c/o 180 Degree Capital Corp.
7 N. Willow Street, Suite 4B, Montclair, NJ 07042
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USA
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Tonia L. Pankopf
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Independent Director
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c/o 180 Degree Capital Corp.
7 N. Willow Street, Suite 4B, Montclair, NJ 07042
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USA
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Richard P. Shanley
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Independent Director
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c/o 180 Degree Capital Corp.
7 N. Willow Street, Suite 4B, Montclair, NJ 07042
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USA
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Parker A. Weil
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Independent Director
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c/o 180 Degree Capital Corp.
7 N. Willow Street, Suite 4B, Montclair, NJ 07042
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USA
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