Turtle Beach Corporation announced a $20 million share repurchase from shareholder Diversis Capital.
The Donerail Group acquired shares of Turtle Beach common stock at the same purchase price.
This transaction 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.
Donerail Acquisition
The Donerail Group acquired 693,962 shares of Turtle Beach common stock from Diversis.
Ownership Stake
Diversis will own approximately 10% of Turtle Beach's common stock after the transaction.
- The share repurchase aligns with Turtle Beach's capital allocation priorities and belief in the strength of the business.
- The transaction enhances shareholder alignment and ownership stability.
The completion of the share repurchase and The Donerail Group's acquisition signifies a positive outlook for Turtle Beach Corporation's future.