Thursday, May 24th 2012
Corsair Readies Initial Public Offering
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
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.
9 Comments on Corsair Readies Initial Public Offering
Not Good.
Liquid Cool - Financial Analyst
P.S. For an interesting read, just type in the two companies handling the IPO...and add SEC into Google.
I wish I could be happy about seeing companies go public. But it seems almost every time I do, a short time later, they end up doing something that deserves a golden poo...or at least some kind of poo.
(WhoTF makes such product names? I don't want! Is this for the rightwing customers in the US or in the Arab world? Give peace a fecking chance!)
I'd personally prefer to see Corsair Components somewhere on an F1 car than ACER.
Why a US company is getting underwritten by Royal Bank Canada, I have no idea, but that fact alone should have indicated to them that this is a folly move.