Turtle Beach has engaged with Immersion to avoid proxy contest

Turtle Beach (HEAR) has engaged in good faith with Immersion (IMMR) since their initial outreach in an attempt to reach an agreement that would avoid a proxy contest. To that end, Turtle Beach offered to enter into a short term NDA with Immersion on April 30, in an attempt to share the announcements. Furthermore, on April 30, the board sent a letter to Immersion, indicating why after extensive due diligence it is unable to accept the terms that Immersion most recently proposed, along with a further counter-proposal, which it believes is in the best interest of all Turtle Beach shareholders. The Turtle Beach board remains open to finding a mutually acceptable agreement that is in the best interests of all shareholders. The date of the company’s 2023 annual stockholder meeting has not yet been announced. Turtle Beach shareholders are not required to take any action at this time.