Turtle Beach Corporation announced a $20 million share repurchase from Diversis Capital.
The repurchase involved 694,926 shares of common stock at $14.41 per share.
The Donerail Group acquired 693,962 shares at the same price from Diversis.
Following the transaction, Diversis will own about 10% of Turtle Beach's common stock.
Share Repurchase Details
694,926 shares repurchased at $14.41 per share.
Investment Management Involvement
The Donerail Group acquired 693,962 shares from Diversis.
Ownership Impact
Diversis to own approximately 10% of Turtle Beach's common stock.
- The repurchase reflects confidence in Turtle Beach's strategy and long-term value creation.
- Enhances shareholder alignment and ownership stability.
- Transaction executed under the Company's existing $75 million authorization.
The share repurchase demonstrates Turtle Beach's commitment to driving shareholder value and stability.