Turtle Beach Corporation announced a $20 million share repurchase from shareholder Diversis Capital.
The repurchase included 694,926 shares of common stock at $14.41 per share.
The Donerail Group also acquired 693,962 shares of Turtle Beach common stock from Diversis at the same purchase price.
Share Repurchase Details
694,926 shares repurchased at $14.41 per share, totaling $10 million.
Investment by Donerail Group
Donerail Group acquired 693,962 shares at the same purchase price.
Diversis Capital Ownership
Diversis Capital to retain approximately 10% ownership of Turtle Beach's common stock.
- The transaction reflects continued confidence in Turtle Beach's strategy and long-term value creation.
- Enhances shareholder alignment and ownership stability, showcasing commitment to driving shareholder value.
The share repurchase and investment by Donerail Group demonstrate strong support for Turtle Beach's growth strategy and underline confidence in the company's future.