TBCH · Turtle Beach Corporation

Turtle Beach Corporation restructured its credit facilities on April 30, 2026, entering into an $85 million term loan agreement with Blue Torch Finance and an $80 million asset-based revolving credit facility with Bank of America. These facilities replace the company's prior $150 million credit agreement and are designed to provide increased financial flexibility, particularly to support an active share repurchase program. The term loan matures in three years and bears interest at SOFR plus 675 to 750 basis points, while the ABL facility also matures in three years with interest at SOFR plus 150 to 200 basis points. Proceeds from the term loan were used to refinance existing debt, fund share repurchases, and for general corporate purposes. The company has approximately $56 million remaining under its existing $75 million share repurchase authorization and intends to continue opportunistic purchases. The new covenant structure is specifically tailored to accommodate the buyback program. This refinancing enhances Turtle Beach's capital allocation flexibility and positions the company to return capital to shareholders while maintaining liquidity.