ascray:
You can definitely apply, but I wouldn't be terribly hopeful.
The hosts of the event are correct in telling you that the GMAT is only one factor and that your application is evaluated holistically. However, what they aren't mentioning is that there are certain scores/percentiles that could be serious barriers to being accepted. A 32nd percentile on the Quant will inevitably raise questions even if the rest of your profile is strong.
So, you could apply but that might be a fool's errand. Your best bet is to retake the exam and apply next year. It would be no different than applying and being rejected even if you didn't have a weak GMAT score. Make a contingency plan and really focus all of your efforts on the GMAT. Figure out why you did poorly and what you can to improve your score this go around.
I realize that's probably not the advice you want to hear, but I just can't see you overcoming this score unless there was a truly extenuating set of circumstances or somehow the school waitlisted you and said if you retook the exam they would consider moving up up/off the list.
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Admissionado