Turtle Beach Corp. (TBCH), Monday announced that its Board has approved a limited-duration stockholder rights plan and declared a one-for-one dividend of rights on all outstanding common shares, with a record date of June 23, 2025.
Under the plan, set to expire June 9, 2026, any individual or group acquiring 10 percent or more of Turtle Beach's stock without Board approval would trigger the rights, allowing existing shareholders to buy additional shares at a substantial discount.
The mechanism gives the Board time to evaluate any unsolicited bids and ensures all investors can fully realize their investment's value. A "qualifying offer" provision also lets shareholders call a special meeting to exempt a fair, Board-supported takeover proposal.
TBCH is currently trading at $13.45, up $0.26 or 1.97 percent on the Nasdaq.
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