Turtle Beach Successfully Replaces Subordinated Debt with Lower Cost Financing
SAN DIEGO, CA, December 30, 2014 – Turtle Beach Corporation (NASDAQ: HEAR) today announced that it has entered into an amendment to its loan agreement with Bank of America signed March 31, 2014 that will allow the Company to repay approximately $7.7 million of existing subordinated debt. The subordinated debt had an annual interest rate of 10% through December 31, 2014 and 20% per annum thereafter…