Parametric, Turtle Beach To Merge In Audio Stock Swap

Law360, New York (August 6, 2013, 4:46 PM EDT) -- Parametric Sound Corp. and private equity-backed Voyetra Turtle Beach Inc. announced their tie-up late Monday, a reverse-merger stock swap that allows Parametric to boost its stake in the combined company by raising new equity before closing.

California-based Parametric, which is developing a precision sound-focusing technology, is the nominal acquirer and will issue new shares to exchange for shares of New York-based Turtle Beach, a maker of gaming headsets controlled by buyout shop Stripes Group LLC.

Parametric will own just 19 percent of the combined company, but...
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