Corsair Components Memory files for 86 mill IPO
Corsair Components Inc., post-IPO to be known as “CRSR”, is well known amongst custom hardware tinkerers and gamers for high speed DRAM memory modules, flash drives, power supply units, solid state drives (SSD), cooling systems, and other modular peripherals around PC gaming hardware. On friday, they filed to raise up to $86.25 million in an initial public offering.
The company, based in Fremont, California, has been around since 1995. The S-1 filing with the Securities and Exchange Commission stated its shares would trade on the NASDAQ stock exchange, under the ticker symbol “CRSR”.
in 2008, Corsair reported a net profit of $11.2 million on revenue of $341.1 million, while compared to a net loss of $8.7 million in 2009 on revenue of $325.6 million.
The offering is limited by means to a prospectus, with 4 managers handling it: Barclays Capital and Jefferies & Company are lead underwriters, while Oppenheimer & Company, and RBC Capital Markets, will be acting as co-managers.
Among other things, Corsair said it would use the IPO money to help provide it with future access to public equity markets, and “increase awareness of our company.” It also said the money would be used for “capital expenditures and possible acquisitions of other businesses, products, assets or technologies.” The filing, however, said Corsair did not have any “present commitments or agreements to make any acquisitions.” [full article]