Turtle Beach Corporation (NasdaqGM:HEAR) acquired Performance Designed Products, LLC from Diversis Capital Management, L.P. for approximately $120 million on March 13, 2024. The consideration consists of $79.9 million in cash and Turtle Beach has issued 3.45 million shares. Turtle Beach Corporation borrowed $50 million of term loan facility to fund a portion of the purchase price. Jefferies LLC acted as a financial advisor to Turtle Beach. Dechert LLP acted as a legal advisor to Turtle Beach. O'Melveny & Myers LLP acted as a legal advisor to Performance Designed Products. The Board of Directors of both Turtle Beach and Performance Designed Products have unanimously approved the Transaction and the Transaction was closed immediately upon the execution of the definitive agreements.

Turtle Beach Corporation (NasdaqGM:HEAR) completed the acquisition of Performance Designed Products, LLC from Diversis Capital Management, L.P. on March 13, 2024.