Corsair aims to raise $78 million with its IPO

Posted on Friday, April 27 2012 @ 19:03 CEST by Thomas De Maesschalck

Mercury News reports Corsair intends to raise $78 million with an initial public offering (IPO). The filing also reveals that Corsair had a net profit of $3.1 million on sales of $132.5 million in Q1 2012. Profits fell 37 percent while sales rose 23 percent, compared to the year-ago quarter.

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 in the IPO, a company filing with the Securities and Exchange Commission shows.

The SEC filing marked the first time that Corsair has specified a potential price per share for the IPO.

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.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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