Shareholders owning 72.4% of Turtle Beach's (HEAR) outstanding shares have agreed to extend lockup restrictions on selling them to April 1, 2015. The restrictions, tied to the Parametric/Turtle Beach reverse merger, were previously set to expire on July 16.
The shareholders include top investor SG VTB Holdings, the co-founders of Turtle Beach's headset business, and the company's chairman and CEO.
Shares were down 41% YTD prior to the announcement. 11% of the float was shorted as of June 30.