HEAR - Turtle Beach gains after bidder Donerail says it will make another offer

Turtle Beach (NASDAQ:HEAR) jumped 14% after Donerail Group said it plans to make a revised offer for the gaming headphone maker. Donerail plans to submit a revised letter of intent in "short order" that will include an offer at lower price than its bid from the August of $36.50, according to a statement from the hedge fund. "Our revised LOI will likely include an offer at a lower price than $36.50 per share but at a price that we believe to be both an attractive premium to the current trading price of Turtle Beach’s stock as well as to the 30-day volume weighted average price of the shares," according to the statement. The latest comments from Donerail come after after a report in August that Turtle Beach was running a sale process. The company turned down bids from Donerail, including a sweetened $36.50/share offer. Turtle Beach shares popped on Nov. 19  after the company filed an 8-K on an amended severance agreement for

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Turtle Beach gains after bidder Donerail says it will make another offer