Press release
Turtle Beach Corporation, Together With The Donerail Group, Announces $20 Million Share Repurchase From Shareholder
SAN DIEGO, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Turtle Beach Corporation (Nasdaq: TBCH, the “Company”), a leading gaming accessories brand, today announced it
About this update from Turtle Beach Corporation
[{"type":"text","content":"SAN DIEGO, Aug. 15, 2025 (GLOBE NEWSWIRE) -- Turtle Beach Corporation (Nasdaq: TBCH, the “Company”), a leading gaming accessories brand, today announced it entered into a definitive agreement to repurchase 694,926 shares of common stock from Diversis Capital (“Diversis”), at the 30-day volume weighted average price of $14.41 per share, for a total of approximately $10 million. Simultaneous with the Company’s repurchase, The Donerail Group (“Donerail”), an investment management firm, has acquired 693,962 shares of Turtle Beach common stock from Diversis at the same price per share. Following the completion of the transaction, Diversis will own approximately 10% of Turtle Beach’s common stock. The remaining shares beneficially owned by Diversis will be subject to a new 90-day lock-up agreement. “This transaction reflects our continued confidence in Turtle Beach’s strategy and long-term value creation,” said Cris Keirn, CEO of Turtle Beach Corporation. “We’re pleased to have executed this repurchase directly, which aligns with our capital allocation priorities and underscores our belief in the strength of our business.” “It has been a privilege to serve on Turtle Beach’s Board of Directors and work closely with management over the past two years. The Company’s transformation over that period has been significant,” said Will Wyatt, Managing Partner of The Donerail Group and Turtle Beach board member. “We are excited to increase our investment in the Company as the Board drives to create value for all shareholders.” The repurchase was executed under the Company’s existing $75 million authorization and in compliance with the Company’s credit agreement and capital return framework. The recently completed refinancing of Turtle Beach’s debt facilities provided the flexibility to execute this transaction and represents the Company’s commitment of utilizing share repurchases to drive shareholder value. The transaction enhances shareholder alignment and ownership stability. 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. ...