Turtle Beach Corporation announced a $20 million share repurchase from shareholder Diversis Capital.
The repurchase involves 694,926 shares of common stock at $14.41 per share.
The Donerail Group acquired 693,962 shares at the same purchase price.
Following the transaction, Diversis will own approximately 10% of Turtle Beach's common stock.
Share Repurchase Details
694,926 shares repurchased at $14.41 per share, totaling $10 million.
Investment by The Donerail Group
The Donerail Group acquired 693,962 shares at the same price.
Diversis' Ownership Stake
Diversis will own around 10% of Turtle Beach's common stock post-transaction.
- The transaction reflects confidence in Turtle Beach's strategy and long-term value creation.
- The share repurchase aligns with the company's capital allocation priorities and commitment to driving shareholder value.
- The debt refinancing provided flexibility to execute the repurchase and enhance shareholder alignment.
Overall, the share repurchase and strategic investment highlight shareholder alignment and confidence in Turtle Beach Corporation's future growth.