Turtle Beach Corporation announced a $20 million share repurchase from shareholder, Diversis Capital.
The repurchase involved acquiring 694,926 shares of common stock from Diversis at $14.41 per share.
Simultaneously, The Donerail Group acquired 693,962 shares of Turtle Beach common stock from Diversis at the same purchase price.
Share Repurchase Details
694,926 shares repurchased from Diversis at $14.41 per share, totaling $10 million.
Donerail's Acquisition
The Donerail Group acquired 693,962 shares at the same price as Turtle Beach's repurchase.
Ownership Structure
Following the transaction, Diversis will own approximately 10% of Turtle Beach's common stock.
- The transaction reflects confidence in Turtle Beach's strategy and value creation.
- The repurchase aligns with capital allocation priorities and underscores belief in the business's strength.
The share repurchase and Donerail's investment highlight shareholder alignment and ownership stability for Turtle Beach Corporation, reinforcing management's commitment to driving shareholder value.