SCHEDULE: Albert Rabil Confirms 9.39% Stake in Turtle Beach After Call Option Expires Worthless

Albert Rabil, CEO of Kayne Anderson Capital Advisors, L.P., has filed an amended Schedule 13G for Turtle Beach Corporation, confirming his 9.39% beneficial ownership after a call option expired worthless.

Summary

• Albert Rabil, Chief Executive Officer of Kayne Anderson Capital Advisors, L.P., filed an Amendment No. 3 to Schedule 13G concerning his beneficial ownership in Turtle Beach Corporation.
• The filing was prompted by a call option position (TBCH at 15.000 EXP 07/18/2025) previously held by Mr. Rabil, which expired worthless on July 18, 2025.
• Mr. Rabil did not receive any shares or compensation as a result of this option position expiring.
• He beneficially owns 1,890,900 shares of Turtle Beach Corp common stock.
• This ownership represents 9.39% of the total class of securities.
• Mr. Rabil holds sole voting power and sole dispositive power over all 1,890,900 shares.
• He certified that the securities were not acquired or held for the purpose of changing or influencing the control of Turtle Beach Corporation, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 4

Explanation: The filing primarily confirms a stable, significant beneficial ownership stake. The negative aspect is the expiration of a call option worthless, implying the stock did not reach a certain price target by the expiration date. This is a minor negative for the stock's past performance relative to the option's strike price, but the core ownership remains transparent.

Positives

• Confirmation of a significant beneficial ownership stake (9.39%) by Albert Rabil, a notable investor, providing transparency to the market.
• The clear resolution of a derivative position (call option expiration) without any shares or compensation being issued.

Negatives

• The call option with a strike price of $15.00 expiring worthless indicates that Turtle Beach Corporation's stock price was below $15.00 at the expiration date of July 18, 2025, which could be viewed as a negative indicator of the stock's performance up to that point.

Future Outlook

NA

Management Comments

• Albert Rabil is the Chief Executive Officer of Kayne Anderson Capital Advisors, L.P. Kayne Anderson Capital Advisors, L.P. disclaims beneficial ownership of the shares reported with respect to Mr. Rabil as Chief Executive Officer of Kayne Anderson Capital Advisors, L.P.
• This Schedule 13G is being filed as the call option position previously held by Albert Rabil, TBCH at 15.000 EXP 07/18/2025, expired worthless.
• Mr. Rabil did not receive any shares or compensation as a result of this option position expiring.

Industry Context

This filing is a standard disclosure of a significant individual ownership stake and the resolution of a derivative position, and it does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant individual shareholder's stake and the outcome of a derivative position. The worthless option might imply past underperformance of the stock relative to the option's strike price.

Key Dates

Recommendation

Keywords

Turtle Beach Corporation, TBCH, Albert Rabil, Schedule 13G, Beneficial Ownership, SEC Filing, Call Option, Kayne Anderson Capital Advisors