Turtle Beach Corporation, a leading gaming accessories brand, announced a $20 million share repurchase from shareholder Diversis Capital.
The repurchase involved the acquisition of 694,926 shares of common stock from Diversis at $14.41 per share.
Simultaneously, The Donerail Group acquired 693,962 shares at the same price, with Diversis retaining approximately 10% ownership.
Share Repurchase Details
$20 million share repurchase involved acquiring over 694,000 shares at $14.41 per share.
Investor Confidence
Transaction reflects confidence in Turtle Beach's strategy and long-term value creation.
Ownership Structure
Diversis retains about 10% ownership with remaining shares under a new 90-day lock-up agreement.
- The share repurchase demonstrates management's belief in the company's strategic direction and commitment to shareholder value.
- The transaction enhances shareholder alignment and stability, signaling a positive outlook for Turtle Beach Corporation.
The completion of the share repurchase and debt refinancing highlights Turtle Beach's dedication to enhancing shareholder value and ownership stability, paving the way for continued growth and success in the gaming accessories market.