Turtle Beach amends credit covenant to allow up to $10M in restricted payments through June 2026

Turtle Beach Corp

First Amendment to Credit Agreement dated Dec 29, 2025, with Bank of America as agent.
Amends Consolidated Fixed Charge Coverage Ratio to exclude up to $10M of restricted payments for trailing twelve months ending Mar 31, 2026 and Jun 30, 2026.
Also excludes $9.45M for period ending Sep 30, 2025 and $7.005M for Dec 31, 2025 from covenant calculation.
No other material changes to the credit agreement; existing terms remain in effect.
Provides increased financial flexibility for dividends, share repurchases, or other restricted payments.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Turtle Beach Corp amended First Amendment to Credit Agreement with Bank of America, N.A., as administrative agent, swingline lender and L/C issuer (effective 2025-12-29).

Action: amendment
Agreement: credit facility
Counterparty: Bank of America, N.A., as administrative agent, swingline lender and L/C issuer
Effective: 2025-12-29

Exact text from the filing

On December 29, 2025, Turtle Beach Corporation (the “Company”) entered into the First Amendment to Credit Agreement (the “First Amendment”), which amended the Company’s credit agreement, dated as of August 1, 2025 (as amended from time to time, the “Credit Agreement”), by and among the Company, the other borrowers and guarantors party thereto, the lenders from time to time party thereto, and Bank of America, N.A., as administrative agent, swingline lender and L/C issuer.

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Source: SEC EDGAR

accession 0001193125-25-337221

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