Turtle Beach Corp: Executive Changes & Stock Rights
Ticker: TBCH · Form: 8-K · Filed: Aug 13, 2024 · CIK: 1493761
| Field | Detail |
|---|---|
| Company | Turtle Beach Corp (TBCH) |
| Form Type | 8-K |
| Filed Date | Aug 13, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $30,0000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-changes, board-changes, stock-rights
Related Tickers: HEAR
TL;DR
Turtle Beach (HEAR) shakes up execs, elects new directors, and has stock rights news.
AI Summary
Turtle Beach Corporation announced on August 7, 2024, a material definitive agreement related to preferred stock purchase rights. The company also reported the departure of directors or certain officers, the election of new directors, and the appointment of certain officers, along with compensatory arrangements. This filing also includes financial statements and exhibits.
Why It Matters
Changes in executive leadership and board composition, along with updates on stock purchase rights, can signal shifts in company strategy and governance that may impact investors.
Risk Assessment
Risk Level: medium — Executive and board changes, coupled with material agreements, can introduce uncertainty and potential strategic shifts.
Key Players & Entities
- Turtle Beach Corporation (company) — Registrant
- August 7, 2024 (date) — Date of Earliest Event Reported
- Nevada (jurisdiction) — State of Incorporation
- 27-2767540 (tax_id) — IRS Number
FAQ
What specific material definitive agreement was entered into by Turtle Beach Corporation?
The filing indicates a material definitive agreement related to preferred stock purchase rights, but the specific details of the agreement are not elaborated upon in the provided text.
Who are the departing directors or officers of Turtle Beach Corporation?
The filing states that there was a departure of directors or certain officers, but it does not name the individuals involved in the provided text.
Who are the newly elected directors or appointed officers?
The filing mentions the election of directors and appointment of certain officers, but the names of these individuals are not specified in the provided text.
What is the significance of the preferred stock purchase rights mentioned in the filing?
The filing notes a material definitive agreement concerning preferred stock purchase rights, which typically relate to corporate governance and shareholder protection, but specific implications are not detailed here.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on August 7, 2024.
Filing Stats: 1,105 words · 4 min read · ~4 pages · Grade level 11.1 · Accepted 2024-08-13 16:01:21
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 HEAR The Nasdaq Global Market Pre
- $30,0000,000 — ck in an aggregate amount not to exceed $30,0000,000 prior to March 31, 2025, subject to the
Filing Documents
- turtlebeach8k08122024.htm (8-K) — 31KB
- exh10_1.htm (EX-10.1) — 109KB
- exh10_2.htm (EX-10.2) — 26KB
- exh99_1.htm (EX-99.1) — 11KB
- image0.jpg (GRAPHIC) — 301KB
- 0000894579-24-000241.txt ( ) — 783KB
- hear-20240807.xsd (EX-101.SCH) — 4KB
- hear-20240807_def.xml (EX-101.DEF) — 17KB
- hear-20240807_lab.xml (EX-101.LAB) — 26KB
- hear-20240807_pre.xml (EX-101.PRE) — 19KB
- turtlebeach8k08122024_htm.xml (XML) — 6KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On August 8, 2024, the Company issued a press release announcing Mr. Hanson's intent to retire as the Company's Chief Financial Officer and Treasurer. A copy of the press release is furnished herewith as Exhibit 99.1. The information in this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. Item9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Amendment No. 1 to Financing Agreement, dated August 7, 2024, by and among Turtle Beach Corporation, Voyetra Turtle Beach, Inc., VTB Holdings, Inc., each other loan party, the lenders from time to time party thereto, and Blue Torch Finance, LLC, as collateral agent and administrative agent. 10.2 Extension Letter Agreement to the Amended and Restated Loan, Guaranty and Security Agreement, dated August 7, 2024, by and among Turtle Beach Corporation, Voyetra Turtle Beach, Inc., Turtle Beach Europe Limited, and Bank of America, N.A., as administrative agent, collateral agent ad security trustee for the lenders. 99.1 Press Release of the Company, dated August 8, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TURTLE BEACH CORPORATION Date: August 13, 2024 By: /s/ JOHN T. HANSON John T. Hanson Chief Financial Officer and Treasurer