Turtle Beach Corporation announced a $20 million share repurchase from the 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 at the same purchase price, increasing their investment in Turtle Beach.
Share Repurchase Details
694,926 shares of common stock repurchased at $14.41 per share, totaling $10 million.
Donerail's Acquisition
The Donerail Group acquired 693,962 shares at the same purchase price from Diversis.
Ownership Stake
Diversis will own approximately 10% of Turtle Beach's common stock after the transaction.
- The share repurchase reflects confidence in Turtle Beach's strategy and long-term value creation.
- The transaction aligns with Turtle Beach's capital allocation priorities and strengthens shareholder alignment and ownership stability.
The completion of this share repurchase and the acquisition by The Donerail Group demonstrate strategic moves to enhance shareholder value and align with Turtle Beach's business strategy.