Corsair Components Postpones IPO
Corsair Components is postponing its planned initial public offering of stock, citing market conditions. It initially filed plans for an initial public offering in 2010, hoping to raise as much as $86.3 million for general corporate purposes, including working capital, capital expenditures and possible acquisitions. Earlier this month, it said it intended to offer 6.9 million shares at a maximum price of $14. Chief Executive Andy Paul said the company intends to re-launch its IPO when equity market conditions improve. After the whole Facebook IPO fiasco last week it would be tough for any company to be the next tech company to go public!
“Our business is growing, and is generating increasing profitability and cash flow,” said Paul, adding that the company has sufficient capital to allow it to continue to invest in the brand strength, products and personnel.
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