Turtle Beach (TBCH) said Monday its board has adopted a limited-duration stockholder rights plan to protect against actions of third parties that the board deems are not in the best interests of the company and its shareholders.
The rights under the plan would generally become exercisable once a person or group acquires a stake of at least 10% in a deal not approved by the board, the company said.
The plan is set to expire June 9, 2026.
The company said the board declared a dividend distribution of one right for each outstanding common share as of the record date of June 23.
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