Turtle Beach adopts shareholder rights plan (poison pill) with 12% trigger

Turtle Beach Corp

Board approved Rights Agreement on March 27, 2023; dividend of one right per common share declared.
Rights become exercisable if a person acquires 12% or more of common stock without board approval.
Rights expire on March 28, 2024, unless earlier redeemed or exchanged.
Record date for rights dividend is April 10, 2023.
Rights agreement includes a 'Qualifying Offer' provision allowing exemption for certain all-cash offers.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Turtle Beach Corp: Board approved a Certificate of Designation for Series A Junior Participating Preferred Stock (effective 2023-03-27).

Change: charter amendment
Effective: 2023-03-27

Exact text from the filing

on March 27, 2023, the Board approved a Certificate of Designation, Preferences, and Rights of Series A Junior Participating Preferred Stock

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Turtle Beach Corp filing history →

Source: SEC EDGAR

accession 0000929638-23-000999

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