Turtle Beach Corporation

$12.5 million Senior Term Loan

Overview

Founded in 1977, Turtle Beach (HEAR) is one of the leading designers of high end headsets for the gaming industry.

Purpose

SLR Credit Solutions initially provided a term loan secured by the Company’s intellectual property.  The company wanted to raise incremental term debt to repay a portion of the subordinated debt.  

Result

SLR Credit Solutions provided an incremental term loan of $3.3MM to fund the repayment.  Additional elements of flexibilty were added and pricing was reduced to reflect the Company’s strong financial profile.