techPowerUp!: Corsair Readies Initial Public Offering

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Corsair Readies Initial Public Offering May 24th 2012, 06:45 According to a stock market analyst with Seeking Alpha, Corsair is going public, with an initial public offering (IPO), in an effort to raise US $78 million, with a market capitalization of $223 million. Stifel, Nicolaus & Co., and RBC Capital Markets, will be underwriting it. Corsair will use the name "Corsair Components", and market symbol "CRSR" in its IPO. Corsair has two main branches of products, memory products (DRAM and NAND flash products), and peripherals (power supply, cases, and gaming peripherals). Its income fluctuates with consumers' seasonal purchasing patterns. The company plans to net $42.5 million from its IPO, some of its proceeds go toward repaying a cumulative debt of $28 million, the rest of the proceeds go toward working capital and general corporate purposes. An estimated 4.1 million shares are expected to be sold by Corsair. Source: Seeking Alpha

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