Corsair Looks To Raise $78 Million w/ IPO, Aims For $13 Share Price
Corsair Components, a Fremont-based maker of gaming hardware for personal computers, intends to raise $78 million for an initial public offering, according to a regulatory filing on Thursday. The company plans to sell its shares at around $13 a share, with a range of $12 to $14 per share. Corsair intends to offer 6 million shares (31 percent insider) in the IPO, a company filing with the Securities and Exchange Commission shows. Corsair would trade on the NASDAQ Global stock exchange under the ticker symbol “CRSR,” according to media reports.
Corsair filed to go public almost exactly two years ago. In its initial IPO filing in April 2010, Corsair estimated it would seek to raise $86 million. During 2011, Corsair earned $19.4 million on sales of $455.2 million. In 2010, the company lost $10.2 million on sale. Compared to the year before, sales in 2011 jumped 20 percent. For the three months that ended in March, Corsair earned $3.1 million on sales of $132.5 million. Compared to the year-ago quarter, profits fell 37 percent, while sales rose 23 percent, the company’s SEC filing showed.
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