Corsair aims to raise $252 million via IPO

Posted on Monday, September 14 2020 @ 14:50 CEST by Thomas De Maesschalck
Corsair logo
Memory and gaming peripheral maker Corsair announced the terms of its initial public offering (IPO). Following previous (failed) attempts to make its debut on the stock market, Corsair is now going public under ticker symbol CRSR.

Documents filled by Corsair indicate it plans an initial public offering of 14 million shares. This includes 7.5 million shares sold by Corsair and 6.5 million offered by an existing shareholder. The expected price range of the IPO is between $16 and $18. At the high-end of the range, the IPO would raise $252 million.

With a total of 91,849,366 shares outstanding after the IPO, this would give Corsair a valuation of $1.65 billion.
Corsair Gaming, Inc. ("Corsair"), a leading global provider and innovator of high-performance gear for gamers and content creators, announced today that it has commenced an initial public offering of 14,000,000 shares of its common stock, approximately 7,500,000 of which are being offered by Corsair and approximately 6,500,000 of which are being offered by a selling stockholder. In connection with the offering, the underwriters will also have a 30-day option to purchase up to an additional 2,100,000 shares of common stock from the selling stockholder. The initial public offering price is estimated to be between $16.00 and $18.00 per share. Corsair has applied to list its common stock on the Nasdaq Global Market under the ticker symbol "CRSR." The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering.

Goldman Sachs & Co. LLC, Barclays and Credit Suisse are serving as lead book-running managers and as representatives of the underwriters for the proposed offering. Macquarie Capital, Baird, Cowen and Stifel are also acting as book-running managers for the proposed offering. Wedbush Securities and Academy Securities are acting as co-managers for the proposed offering.

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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