05:12 PM EDT, 03/13/2024 (MT Newswires) -- Turtle Beach ( HEAR ) said late on Wednesday that it intends to launch a modified Dutch auction tender offer to purchase up to $30 million of its common stock at a price between $13.75 and $15 apiece.

The company said it is using available cash on hand and available borrowing capacity to fund the tender.

Turtle Beach ( HEAR ) said the low end of the offer range represents a 25% premium to its most recent closing share price.

The tender will commence by April 10 and will expire by May 10.

Price: 13.53, Change: +2.5, Percent Change: +22.67