0001011438-24-000011.txt : 20240117 0001011438-24-000011.hdr.sgml : 20240117 20240117144301 ACCESSION NUMBER: 0001011438-24-000011 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240117 DATE AS OF CHANGE: 20240117 GROUP MEMBERS: ADK CAPITAL LLC GROUP MEMBERS: NAT KLIPPER SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: QUANTUM CORP /DE/ CENTRAL INDEX KEY: 0000709283 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER STORAGE DEVICES [3572] ORGANIZATION NAME: 06 Technology IRS NUMBER: 942665054 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-35818 FILM NUMBER: 24538025 BUSINESS ADDRESS: STREET 1: 224 AIRPORT PARKWAY STREET 2: SUITE 550 CITY: SAN JOSE STATE: CA ZIP: 95110 BUSINESS PHONE: 408 944 4000 MAIL ADDRESS: STREET 1: 224 AIRPORT PARKWAY STREET 2: SUITE 550 CITY: SAN JOSE STATE: CA ZIP: 95110 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ADK Soho Fund LP CENTRAL INDEX KEY: 0002002076 ORGANIZATION NAME: IRS NUMBER: 271373861 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 429 LENOX AVENUE CITY: MIAMI BEACH STATE: FL ZIP: 33139 BUSINESS PHONE: (646) 783-5500 MAIL ADDRESS: STREET 1: 429 LENOX AVENUE CITY: MIAMI BEACH STATE: FL ZIP: 33139 SC 13G/A 1 form_sc13ga-quantum.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________________________

Schedule 13G

Under the Securities Exchange Act of 1934
(Amendment No. 1)*  
_____________________________________

Quantum Corporation
(Name of Issuer)

Common Stock, par value $0.01 per share
(Title of Class of Securities)

747906501
(CUSIP Number)

December 31, 2023
(Date of Event which Requires Filing of this Statement)
 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐ Rule 13d-1(b)
☒ Rule 13d-1(c)
☐ Rule 13d-1(d)
 
*
The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in 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
 
NAMES OF REPORTING PERSONS
 
ADK Soho Fund LP
2
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) ☐ (b) ☐
 
3
 
SEC USE ONLY
 
4
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
 
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
7,654,343
6
SHARED VOTING POWER
 
0
7
SOLE DISPOSITIVE POWER
 
7,654,343
8
SHARED DISPOSITIVE POWER
 
0
9
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
7,654,343
10
 
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
☐
11
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
8.1%*
12
 
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
PN
 
*
Based on 95,040,608 shares of Common Stock, par value $0.01 per share (“Common Stock”), of Quantum Corporation (the “Issuer”) outstanding as of August 4, 2023, as disclosed in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on August 8, 2023.

CUSIP No. 747906501
 
 
 
 
 
 
 
1
 
NAMES OF REPORTING PERSONS
 
ADK Capital LLC
2
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) ☐ (b) ☐
 
3
 
SEC USE ONLY
 
4
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
Delaware
 
 
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
7,654,343
6
SHARED VOTING POWER
 
0
7
SOLE DISPOSITIVE POWER
 
7,654,343
8
SHARED DISPOSITIVE POWER
 
0
9
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
7,654,343
10
 
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
☐
11
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
8.1%*
12
 
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
OO
 
*
Based on 95,040,608 shares of Common Stock of the Issuer outstanding as of August 4, 2023, as disclosed in the Issuer’s Form 10-Q filed with the SEC on August 8, 2023.

CUSIP No. 747906501
 
 
 
 
 
 
 
1
 
NAMES OF REPORTING PERSONS
 
Nat Klipper
2
 
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) ☐ (b) ☐
 
3
 
SEC USE ONLY
 
4
 
CITIZENSHIP OR PLACE OF ORGANIZATION
 
United States
 
 
 
 
 
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
5
SOLE VOTING POWER
 
9,309,935
6
SHARED VOTING POWER
 
0
7
SOLE DISPOSITIVE POWER
 
9,309,935
8
SHARED DISPOSITIVE POWER
 
0
9
 
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
9,309,935
10
 
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
☐
11
 
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
9.8%*
12
 
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
IN
 
*
Based on 95,040,608 shares of Common Stock of the Issuer outstanding as of August 4, 2023, as disclosed in the Issuer’s Form 10-Q filed with the SEC on August 8, 2023.
Item 1(a)
Name of Issuer:
Quantum Corporation (the “Issuer”)
 
Item 1(b)
Address of Issuer’s Principal Executive Offices:
224 Airport Parkway, Suite 550
San Jose, CA 95110
 
Item 2(a)
Name of Person Filing:
The Statement is filed on behalf of each of the following persons (collectively, the “Reporting Persons”)
 
 
i)
ADK Soho Fund LP (the “Fund”);
 
 
 
 
ii)
ADK Capital LLC (“Capital”); and
 
 
 
 
iii)
Nat Klipper
Capital serves as the general partner of the Fund, which directly holds Shares (as defined in Item 2(d) below). Nat Klipper serves as the Managing Member of Capital and the Managing Partner of the Fund.
 
Item 2(b)
Address of Principal Business Office or, if none, Residence:
The address of the principal business office of each of the Reporting Persons is 429 Lenox Avenue, Miami Beach, FL 33139.
 
Item 2(c)
Citizenship:
 
 
i)
The Fund is a Delaware limited partnership;
 
 
 
 
ii)
Capital is a Delaware limited liability company; and
 
 
 
 
iii)
Nat Klipper is a United States citizen.
 
Item 2(d)
Title of Class of Securities:
Common Stock, par value $0.01 per share (the “Shares”)
 
Item 2(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:
This Item 3 is not applicable.
 
Item 4
Ownership:
 
(a)
Amount beneficially owned as of December 31, 2023:
Fund - 7,654,343 Shares
Capital - 7,654,343 Shares
Nat Klipper - 9,309,935 Shares
 
(b)
Percent of class as of December 31, 2023:
Fund – 8.1%
Capital – 8.1%
Nat Klipper – 9.8%

(c)
As of December 31, 2023, number of shares as to which the Fund has:
(i) Sole power to vote or to direct the vote: 7,654,343
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of: 7,654,343
(iv) Shared power to dispose or to direct the disposition of: 0
As of December 31, 2023, number of shares as to which Capital has:
(i) Sole power to vote or to direct the vote: 7,654,343
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of: 7,654,343
(iv) Shared power to dispose or to direct the disposition of: 0
As of December 31, 2023, number of shares as to which Nat Klipper has:
(i) Sole power to vote or to direct the vote: 9,309,935
(ii) Shared power to vote or to direct the vote: 0
(iii) Sole power to dispose or to direct the disposition of: 9,309,935
(iv) Shared power to dispose or to direct the disposition of: 0
Capital may be deemed to have sole power to vote and sole power to dispose of the Shares held by the Fund, through its capacity as general partner of the Fund. Nat Klipper may be deemed to have sole power to vote and sole power to dispose of the Shares held by the Fund, through his capacity as the Managing Member of Capital and the Managing Partner of the Fund.
The percentages reported for Item 4(b) are calculated based on a total of 95,040,608 Shares outstanding on August 4, 2023, as disclosed in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission on August 8, 2023.


Item 5
Ownership of Five Percent or Less of a Class:
This Item 5 is not applicable.
 
Item 6
Ownership of More Than Five Percent on Behalf of Another Person:
See disclosure in Item 4, which is incorporated by reference herein.
 
Item 7
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person:
See disclosure in Item 2, which is incorporated by reference herein.
 
Item 8
Identification and Classification of Members of the Group:
This Item 8 is not applicable.
 
Item 9
Notice of Dissolution of Group:

This Item 9 is 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 my knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct.
 
             
Dated: January 17, 2024
 
  
 
  
 
ADK Soho Fund LP
       
 
 
  
 
  
 
By ADK Capital LLC, its General Partner
       
 
 
  
 
  
 
By:  /s/ Nat Klipper
 
 
  
 
  
 
       Nat Klipper
 
 
  
 
  
 
       Managing Member
       
Dated: January 17, 2024
 
  
 
  
 
ADK Capital LLC
       
 
 
  
 
  
 
By:  /s/ Nat Klipper
 
 
  
 
  
 
       Nat Klipper
 
 
  
 
  
 
       Managing Member
       
Dated: January 17, 2024
 
  
 
  
 
Nat Klipper
       
 
 
  
 
  
 
By:  /s/ Nat Klipper