Turtle Beach Corporation announced a $20 million share repurchase from shareholder Diversis Capital.
Simultaneously, The Donerail Group acquired shares of Turtle Beach common stock from Diversis.
The share repurchase reflects confidence in Turtle Beach's strategy and long-term value creation.
Share Repurchase
694,926 shares of common stock repurchased from Diversis Capital at $14.41 per share.
Investment by Donerail Group
Donerail Group acquired 693,962 shares of Turtle Beach common stock at the same price.
Ownership Structure
Diversis will own approximately 10% of Turtle Beach's common stock post-transaction.
- The repurchase aligns with Turtle Beach's capital allocation priorities and belief in business strength.
- The transaction enhances shareholder alignment and ownership stability.
The completion of the share repurchase and debt refinancing demonstrates Turtle Beach Corporation's commitment to shareholder value creation and financial stability.