Turtle Beach enters $150M credit facility ($60M term loan + $90M revolver), matures Aug 2028

Turtle Beach Corp

New $150M credit facility includes a $60M term loan and a $90M revolving credit facility, maturing August 1, 2028.
Interest rates: base rate loans at SOFR/prime + 2.00%-2.75%; term SOFR/EURIBOR loans at +3.00%-3.75%.
Facility secured by substantially all assets of loan parties; includes financial covenants (fixed charge coverage ratio, leverage ratio).
Proceeds used to refinance existing indebtedness and for working capital and general corporate purposes.
Facility replaces previous debt arrangements and provides $60M term loan, $90M revolving availability.

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