Turtle Beach closes $85M term loan and $80M ABL; $56M buyback capacity remains

Turtle Beach Corp

New $85M term loan from Blue Torch Capital, SOFR + 6.75%-7.50%, matures April 2029.
New $80M ABL facility from Bank of America, SOFR + 1.50%-2.00%, replaces prior $150M credit agreement.
Proceeds used to refinance existing debt and for general corporate purposes; secured by substantially all assets.
Company has repurchased ~$49M of stock since 2024; $56M remains under $75M authorization.
CEO cites enhanced flexibility for share repurchases and confidence in long-term value.

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