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Corsair delays IPO plans due to weak market

Posted on Thursday, May 24 2012 @ 18:35:37 CEST by


Corsair announced it decided to delay its introduction on the stock market due to "weak market conditions":
Corsair® Components, Inc. (“Corsair”) (NASDAQ: CRSR), a leading designer and supplier of high-performance PC hardware components for gaming enthusiasts, announced today it has postponed its initial public offering due to market conditions.

“Corsair’s board of directors has decided to postpone its IPO due to weak equity market conditions. Our business is growing, and is generating increasing profitability and cash flow. We have decided that we will re-launch when equity market conditions are more favorable. While we do intend to expand our capital base through public capital markets, our existing capital structure and balance sheet provides sufficient capital to enable continued investment in our brand strength, products and people,” said Andy Paul, Co-Founder, President and CEO of Corsair.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.




 



 

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