Turtle Beach Corporation announced a $20 million share repurchase from shareholder Diversis Capital.
The repurchase involved acquiring 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 price.
Share Repurchase Amount
Totaling approximately $20 million for the acquisition of shares.
Parties Involved
Diversis Capital sold shares to Turtle Beach Corporation and The Donerail Group.
Ownership Impact
Diversis will own about 10% of Turtle Beach's common stock post-transaction.
- The share repurchase reflects a continued confidence in Turtle Beach's strategy and value creation.
- The transaction aligns with Turtle Beach's capital allocation priorities and highlights belief in the business's strength.
The completion of this $20 million share repurchase and the strategic partnerships demonstrate Turtle Beach Corporation's commitment to enhancing shareholder value and ownership stability.