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Turtle Beach Corporation (Nasdaq: TBCH) has announced a significant share repurchase transaction involving $20 million worth of shares. The company will directly repurchase 694,926 shares at $14.41 per share from Diversis Capital for approximately $10 million.
Simultaneously, The Donerail Group will acquire 693,962 shares at the same price. Following the transaction, Diversis Capital will maintain approximately 10% ownership of Turtle Beach's common stock, subject to a 90-day lock-up agreement. The repurchase was executed under the company's existing $75 million authorization and aligns with their capital return framework.
Turtle Beach Corporation (Nasdaq: TBCH), a leading gaming accessories provider, announced its participation in the upcoming Oppenheimer 28th Annual Technology, Internet & Communications Conference. CEO Cris Keirn will conduct a fireside chat on August 12 at 2:55 p.m. ET, with CFO Mark Weinswig also available for meetings.
The presentation will be accessible through a live webcast in the "Events & Presentations" section of TBCH's website, with a replay available for 90 days. The company, known for its gaming headsets, controllers, and PC peripherals, recently expanded its portfolio through the acquisition of Performance Designed Products LLC (PDP) in 2024.
Turtle Beach Corporation (Nasdaq: TBCH) reported Q2 2025 financial results, showing improvements despite market challenges. The company delivered net revenue of $56.8 million with improved gross margin of 32.2%, up 200 basis points year-over-year. Net loss narrowed to $2.9 million from $7.5 million in the prior year.
Key developments include a strategic refinancing of debt facilities, reducing cost of capital by 450 basis points, resulting in annual savings of over $2.0 million. The company repurchased $5.0 million of stock under its $75 million buyback program. Turtle Beach reiterated its full-year 2025 guidance, projecting revenues of $340-360 million and Adjusted EBITDA of $47-53 million.
Turtle Beach Corporation (Nasdaq: TBCH) has successfully completed a comprehensive debt refinancing, securing a $150 million senior secured credit facility with Bank of America. The new facility includes a $90 million revolving credit facility and a $60 million term loan, both maturing on August 1, 2028.
The refinancing features improved terms, with initial borrowing rates at SOFR plus 325 basis points, representing a significant 450 basis point reduction compared to the previous term loan. This restructuring aims to strengthen the company's capital structure and enhance financial flexibility for future growth initiatives.
Turtle Beach Corporation (Nasdaq: TBCH), a leading gaming accessories brand, has scheduled its second quarter 2025 financial results announcement for Thursday, August 7, 2025, after Nasdaq's market close.
The company will host a conference call and webcast at 4:30 p.m. ET / 1:30 p.m. PT featuring CEO Cris Keirn and CFO Mark Weinswig. Investors can access the webcast through the company's website or join via phone at 1-844-826-3035 (US) or 1-412-317-5195 (International). A replay will be available until August 21, 2025.