Diversis Capital Takes 10% Stake in Turtle Beach
Ticker: TBCH · Form: SC 13D · Filed: Mar 21, 2024 · CIK: 1493761
| Field | Detail |
|---|---|
| Company | Turtle Beach Corp (TBCH) |
| Form Type | SC 13D |
| Filed Date | Mar 21, 2024 |
| Risk Level | medium |
| Pages | 9 |
| Reading Time | 11 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-stake, investment, gaming-hardware
Related Tickers: HEAR
TL;DR
**Diversis Capital now owns 10% of Turtle Beach (HEAR) - big move incoming?**
AI Summary
Diversis Capital Partners, led by Kevin Ma and Ron Nayot, has acquired a significant stake in Turtle Beach Corp. As of March 21, 2024, they collectively own 10.0% of the company's outstanding shares, representing 7,760,000 shares. This filing indicates a substantial investment and potential for influence over the gaming peripheral company.
Why It Matters
This significant stake acquisition by Diversis Capital Partners suggests a potential shift in control or strategy for Turtle Beach Corp, a company in the competitive gaming hardware market.
Risk Assessment
Risk Level: medium — The filing indicates a significant ownership stake, which could lead to activist investor behavior or a takeover attempt, introducing uncertainty.
Key Numbers
- 10.0% — Ownership Stake (Percentage of Turtle Beach Corp. common stock held by the filing group as of March 21, 2024.)
- 7,760,000 — Number of Shares (Total shares of Turtle Beach Corp. common stock held by the filing group.)
Key Players & Entities
- Diversis Capital Partners GP I, LLC (company) — Filing group member
- Diversis Capital Partners GP I, LP (company) — Filing group member
- Diversis Capital Partners I, LP (company) — Filing group member
- Kevin Ma (person) — Filing group member
- Ron Nayot (person) — Filing group member
- Turtle Beach Corp (company) — Subject company
- DC VGA LLC (company) — Filing entity
- David Smith (person) — Attorney for filing entity
- Brad Finkelstein (person) — Attorney for filing entity
- O'Melveny & Myers LLP (company) — Legal counsel for filing entity
FAQ
What is the total number of shares of Turtle Beach Corp. common stock held by the filing group?
The filing group collectively holds 7,760,000 shares of Turtle Beach Corp. common stock.
What percentage of Turtle Beach Corp. does the filing group own?
The filing group owns 10.0% of the outstanding common stock of Turtle Beach Corp. as of March 21, 2024.
Who are the key individuals associated with the filing group?
The key individuals listed as group members are Kevin Ma and Ron Nayot.
What is the primary business of Turtle Beach Corp?
Turtle Beach Corp. is in the Communications Equipment, NEC industry (SIC 3669).
When was the name of Turtle Beach Corp. previously changed?
The company was formerly known as Parametric Sound Corp, with a date of name change on June 9, 2010.
Filing Stats: 2,702 words · 11 min read · ~9 pages · Grade level 8.7 · Accepted 2024-03-21 21:41:56
Key Financial Figures
- $0.001 — me of Issuer) Common Stock, par value $0.001 (Title of Class of Securities) 9004
Filing Documents
- d808241dsc13d.htm (SC 13D) — 118KB
- d808241dex991.htm (EX-99.1) — 9KB
- 0001193125-24-074190.txt ( ) — 129KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct. Date: March 21, 2024 DC VGA LLC By: /s/ Kevin Ma Name: Kevin Ma Title: President Diversis Capital Partners I, L.P. By: Diversis Capital Partners GP I, L.P., its general partner By: Diversis Capital Partners GP I, LLC, its general partner By: /s/ Kevin Ma Name: Kevin Ma Title: Managing Member Diversis Capital Partners GP I, L.P. By: Diversis Capital Partners GP I, LLC, its general partner By: /s/ Kevin Ma Name: Kevin Ma Title: Managing Member Diversis Capital Partners GP I, LLC By: /s/ Kevin Ma Name: Kevin Ma Title: Managing Member By: /s/ Kevin Ma Name: Kevin Ma By: /s/ Ron Nayot Name: Ron Nayot Annex A Directors and officers of DC VGA LLC and Diversis Capital Partners GP I, LLC. Name/Citizenship Principal Occupation (United States) Investment in securities 2000 Avenue of the Stars, Suite 1050S Los Angeles, CA 90067 Ron Nayot (United States) Investment in securities 2000 Avenue of the Stars, Suite 1050S Los Angeles, CA 90067