Turtle Beach Corporation (NASDAQ:HEAR) Files An 8-K Entry into a Material Definitive Agreement

Turtle Beach Corporation (NASDAQ:HEAR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.

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On March 30, 2019, Turtle Beach Corporation (the “Company”) and certain funds affiliated with AWM Investment Co. (the “Special Situations Funds”) entered into Amendment No. 1 (the “Warrant Amendment”) to the Warrant Agreement, dated as of April 23, 2018 (the “Warrant Agreement”), by and between the Company and the Special Situations Funds. The Warrant Amendment amends the Warrant Agreement to revise the terms under which Special Situations Funds may exercise its rights under a Fundamental Transaction (as defined in the Warrant Agreement). As a result of the Warrant Amendment, the warrants are no longer accounted for as a financial instrument obligation and reported as a liability that is marked to market each period with changes in fair value reported in earnings. The warrants were marked to market through March 30, 2019, the execution date of the Warrant Amendment, at which time the warrants are accounted for as an equity instrument with the fair value on that date reclassified to additional paid-in-capital.

Item 1.01 — Financial Statements and Exhibits

(d) Exhibits

Exhibit

No.

Description

Amendment to Pre-Funded Common Stock Purchase of Warrants, dated as of March 30, 2019, by and between the Company and the Special Situations Funds

Turtle Beach Corp Exhibit
EX-4.1 2 exhibit41-amendmenttowarra.htm EXHIBIT 4.1 Exhibit AMENDMENT TO PRE-FUNDED COMMON STOCK PURCHASE WARRANTSTURTLE BEACH CORPORATION This First Amendment (this “Agreement”) to those Pre-Funded Common Stock Purchase Warrants,…
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About Turtle Beach Corporation (NASDAQ:HEAR)

Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices. It offers a range of headsets, spanning multiple wired and wireless retail price points and has offerings across all gaming platforms. HyperSound technology is an audio solution that provides a means of projecting sound in a directional manner, without use of speaker arrays, to a specific location creating a precise audio zone. Its HyperSound Clear 500P is a medical device and a directed audio solution for individuals with hearing loss.

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