Corsair Components IPO watch: Corsair Components is a personal computer, or PCs, hardware components provider with the primary focus on gaming hardware. The company intends to sell 4.124 million shares of common stock and the selling stockholders will also sell 1.876 million shares in the public offering. The company estimates the Corsair Components IPO price will be between $12.00 and $14.00 per share. The company has proposd to list its common shares on the Nasdaq Global Market under the symbol “CRSR.”
The Corsair Components IPO underwriting syndicate consists of The Stifel Nicolaus Weisel, RBC Capital Markets, William Blair & Company and Needham & Company, and the former two are acting as the joint book runners. These underwriters have been granted to purchase a total of up to an additional 900,000 shares to cover over-allotments.
The net proceeds from the Corsair Components IPO are anticipated to be approximately $42.2 million on a basis of an assumed public offering price of $13.00 per share, the midpoint of the estimated Corsair Components IPO price range. The net proceeds will be used to repay borrowings outstanding and for other general corporate purposes.
The company generated net revenues of $455.2 million, gross profit of $74.4 million, net income of $19.4 million and adjusted net income of $16.7 million for the year ended December 31, 2011. The company generated net revenues of $132.6 million, gross profit of $20.3 million, net income of $3.1 million and adjusted net income of $3.9 million for the three months ended March 31, 2012.
Find more upcoming IPOs, please go to IPO calendars.
Corsair Components IPO