Turtle Beach Corporation Adopts Limited Duration Stockholder Rights Plan
Retrieved on:
Tuesday, March 28, 2023
Technology, Hardware, Consumer Electronics, Exercise, CARD, ALL, Sustainability Accounting Standards Board, BofA Securities, Rights, Risk, Turtle Beach Corporation, Form 3, Shareholder rights plan, Acquisition, Annual report, Annual general meeting, Dechert, Holding company, Security (finance), Auction, Financial adviser, Shareholder
Turtle Beach Corporation (Nasdaq: HEAR, the “Company”), a leading gaming headset and audio accessory brand, today announced that its Board of Directors (the “Board”) has approved the adoption of a limited duration stockholder rights plan (the “Rights Plan”) and declared a dividend distribution of one right (“Right”) for each outstanding share of common stock.
Key Points:
- Turtle Beach Corporation (Nasdaq: HEAR, the “Company”), a leading gaming headset and audio accessory brand, today announced that its Board of Directors (the “Board”) has approved the adoption of a limited duration stockholder rights plan (the “Rights Plan”) and declared a dividend distribution of one right (“Right”) for each outstanding share of common stock.
- In addition, the Rights Plan provides the Board with time to make informed, deliberate decisions that are in the best long-term interests of the Company and its stockholders.
- The Rights Plan is similar to stockholder rights plans adopted by other publicly-held companies.
- Under the Rights Plan, the Rights generally would become exercisable only if a person or group acquires beneficial ownership of 12% or more of the Company’s common stock in a transaction not approved by the Board.