Turtle Beach Bolsters Empire with Strategic Acquisition and Funding

Turtle Beach (HEAR) has provided an announcement.

Turtle Beach Corporation has expanded its gaming accessory empire by acquiring Performance Design Products through a $118 million merger, combining cash with over 3 million shares of company stock. The deal grants the sellers rights to request stock sale registrations post-lock-up and influence board nominations, ensuring their ongoing involvement. To fund the purchase and other expenses, Turtle Beach secured a $50 million term loan with a five-year maturity and interest rates tied to leverage ratios, alongside amending an existing credit facility to support the integration of the new assets.

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