Turtle Beach announces plans to price public offering of common stock

Deal to be conducted at same price as $2.5 million private stock sale

By Devika Patel

Knoxville, Tenn., Feb. 1 – Turtle Beach Corp. said it will price a public offering of stock with a 30-day over-allotment option. It also plans a $2.5 million concurrent private placement of stock with SG VTB Holdings, LLC.

The sales will be conducted at the same price per share.

Oppenheimer & Co. Inc. is the bookrunner, and Lake Street Capital Markets is the co-manager.

Chairman of the board Ronald Doornink and chief executive officer Juergen Stark plan to invest $650,000 in the public offering.

Proceeds will be used to pay down debt under the company’s working capital line of credit.

Valhalla, N.Y.-based Turtle Beach designs audio products for the consumer, commercial and health care markets.

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