Parametric Sound Gets a New NameTuesday, May 27, 2014
Parametric Sound Corp. completed its name change to Turtle Beach Corp.
Parametric announced an all-stock merger last August with Turtle Beach, and the merger was completed in January.
Turtle Beach (Nasdaq: HEAR) common stock has been assigned a new CUSIP number — 900450 107 — in connection with the name change. Outstanding stock certificates are not affected and do not need to be exchanged, the company said.
“For over three decades Turtle Beach has used innovation and quality to redefine audio for millions of consumers,” said Juergen Stark, CEO of Turtle Beach. “As we move our business forward, the name Turtle Beach Corp. will benefit shareholders by aligning the name with our highly visible consumer brand and its legacy of performance in audio.”
Turtle Beach’s recently released first-quarter results, before the name change, show substantial increases in net revenue and gross profits.