Press release
Turtle Beach Corporation Amends Debt Agreement and Resumes Share Repurchases
-Pursuit of Comprehensive Refinancing to Further Enhance Capital Flexibility Continues- SAN DIEGO, June 16, 2025 (GLOBE NEWSWIRE) -- Turtle Beach Corporation
About this update from Turtle Beach Corporation
[{"type":"text","content":"-Pursuit of Comprehensive Refinancing to Further Enhance Capital Flexibility Continues-\nSAN DIEGO, June 16, 2025 (GLOBE NEWSWIRE) -- Turtle Beach Corporation (Nasdaq: TBCH, the “Company”), a leading gaming accessories brand, today announced that it has secured a waiver under its existing debt agreement, allowing for share repurchases of up to $5 million prior to June 30, 2025 pursuant to its new $75 million authorization announced on May 8th. This action reflects the Company’s continued commitment to return capital to shareholders and reinforces management’s confidence in the strength of the Company’s balance sheet and long-term outlook. In addition, as part of the amendment, the Company will pay down $5 million of its outstanding term loan debt facility. Separately, the Company is actively engaged in discussions to refinance its outstanding loan balance on improved terms. The Company will provide an update on the refinancing process at the appropriate time. About Turtle Beach Turtle Beach Corporation (the “Company”) (corp.turtlebeach.com) is one of the world’s leading gaming accessory providers. The Company’s namesake Turtle Beach brand (www.turtlebeach.com) is known for designing best-selling gaming headsets, top-rated game controllers, award-winning PC gaming peripherals, and groundbreaking gaming simulation accessories. Innovation, first-to-market features, a broad range of products for all types of gamers, and top-rated customer support have made Turtle Beach a fan-favorite brand and the market leader in console gaming audio for over a decade. Turtle Beach Corporation acquired Performance Designed Products LLC (www.pdp.com) in 2024. Turtle Beach’s shares are traded on the Nasdaq Exchange under the symbol: TBCH. Cautionary Note on Forward-Looking Statements This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions, or beliefs about future events. Statements containing the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “goal,” “project,” “intend” and similar expressions, or the negatives thereof, constitute ...