Islet Master Fund Amends Turtle Beach Stake Filing

TL;DR

**Islet Master Fund updated their Turtle Beach ownership filing, confirming their stake.**

AI Summary

Islet Master Fund, L.P. and Islet Management, LP filed an amended SC 13G/A on January 17, 2024, indicating their ownership of Turtle Beach Corporation's common stock as of December 31, 2023. This filing updates their previous disclosure, confirming their continued significant stake in the company. This matters to investors because it shows a major institutional investor maintains a position, which can signal confidence or influence future corporate actions.

Why It Matters

This filing confirms a significant institutional investor, Islet Master Fund, L.P., continues to hold a stake in Turtle Beach, which can influence the company's stock performance and strategic decisions.

Risk Assessment

Risk Level: low — This is an informational filing indicating an existing investor's position, not a new event that introduces significant risk.

Analyst Insight

Investors should note that a significant institutional holder, Islet Master Fund, L.P., is maintaining its position in Turtle Beach. While this filing doesn't reveal a change in ownership, it confirms their continued interest, which could be a positive signal for long-term holders.

Key Players & Entities

• Islet Master Fund, L.P. (company) — reporting person and group member
• Islet Management, LP (company) — filer and group member
• Turtle Beach Corporation (company) — subject company (issuer)
• December 31, 2023 (date) — date of event requiring filing
• January 17, 2024 (date) — filing date
• $0.001 (dollar_amount) — par value per share of common stock

Forward-Looking Statements

• Islet Master Fund, L.P. will continue to hold a significant stake in Turtle Beach Corporation. (Islet Master Fund, L.P.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.001 — ame of Issuer) COMMON STOCK, PAR VALUE $0.001 PER SHARE (Title of Class of Securitie

Filing Documents

• ef20018937_sc13ga.htm (SC 13G/A) — 102KB
• 0001140361-24-002560.txt ( ) — 103KB

(a)

Item 1(a). Name of Issuer: Turtle Beach Corporation, a Nevada corporation (the "Issuer").

(b)

Item 1(b). Address of Issuer's Principal Executive Offices: 44 South Broadway, 4 th Floor White Plains, NY 10601

(a)

Item 2(a). Name of Person(s) Filing: This Schedule 13G filing relates to shares of Common Stock, $0.001 par value per share (the "Common Stock"), of the Issuer. This Schedule 13G is being filed on behalf of the following persons/entities (collectively, the "Reporting Persons"): Islet Master Fund, L.P. (the "Master Fund") Islet Management, LP ("Islet") Joseph Samuels

(b)

Item 2(b). Address of Principal Business Office or, if none, Residence: 590 Madison Avenue, 27th Floor New York, NY 10022

(c)

Item 2(c). Citizenship: The Master Fund is a Cayman Islands exempted limited partnership. Islet is organized under the laws of the State of Delaware. Joseph Samuels is a United States citizen.

(d)

Item 2(d). Title of Class of Securities: Common Stock, par value $0.001 per share ("Common Stock")

(e)

Item 2(e). CUSIP Number: 900450206 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a(n): Not applicable. Item 4. (a) Amount beneficially owned: The responses to Items 5-11 of the cover pages of this Schedule 13G are incorporated herein by reference. Islet acts as investment manager to, and exercises investment discretion with respect to funds and accounts that hold the securities of the Issuer described herein (the "Accounts"). Mr. Samuels is the Chief Executive Officer and Chief Investment Officer of Islet. As investment manager to the Accounts, Islet, pursuant to an investment management agreement, has discretionary investment authority and voting power with respect to the Common Stock beneficially owned by the Accounts. Thus, it could be deemed to have the power to vote and dispose or direct the disposition of such Common Stock or the right to acquire such power upon exercise of the call options held by the Accounts. As the Chief Executive Officer and Chief Investment Officer of Islet, Mr. Samuels has the ability to exercise investment discretion over the Accounts. Thus, he could be deemed to share the power to vote and dispose or direct the disposition of the Common Stock beneficially owned by the Accounts. As of December 31, 2023, the Accounts directly held 65,000 shares of Common Stock and 150,000 shares of Common Stock underlying call options that are currently exercisable. Calculations of the percentage of shares of Common Stock beneficially owned are based on 17,404,013 shares of Common Stock outstanding as of October 31, 2023, as reported in the Quarterly Report on Form 10-Q filed by the Issuer with the Securities and Exchange Commission on November 7, 2023. (b) Percent of class: See Item 4(a) above (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: See Item 5 of each cover page hereof. (ii) Shared power t

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 17, 2024 ISLET MASTER FUND, L.P. By: Islet GP, LLC, its general partner By: /s/ Joseph Samuels Name: Joseph Samuels Title: Managing Member ISLET MANAGEMENT, LP By: /s/ Rebecca Waldman Name: Rebecca Waldman Title: General Counsel JOSEPH SAMUELS /s/ Joseph Samuels

View Full Filing

View this SC 13G/A filing on SEC EDGAR