09:24 AM EDT, 08/15/2025 (MT Newswires) -- Turtle Beach ( TBCH ) said Friday it signed an agreement to repurchase 694,926 shares from Diversis Capital at $14.41 per share, for a total of about $10 million.

Simultaneously, investment management firm Donerail has bought 693,962 shares of Turtle from Diversis at the same price per share, Turtle said.

After completion of the deal, Diversis will own about 10% of Turtle's common stock, Turtle said, adding the rest of the shares beneficially owned by Diversis will be subject to a 90-day lock-up agreement.

The buyback was carried out under Turtle's $75 million authorization, the company said.