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Corsair sets to raise $78 million with an IPO, wants shares at $13

Corsair looks to raise $78 million in an initial public offering of 6 million shares.

| Business, Financial & Legal News | Posted: Apr 27, 2012 8:33 pm

A regulatory filing Thursday shows that Fremont-based Corsair Components looks to raise $78 million dollars with an initial public offering (IPO). The company is looking to sell shares at $13 a share, with a range of $12 to $14. The filing with the Securities and Exchange Commission shows that the company intends to share 6 million shares during its IPO.

 

TweakTown image news/2/3/23807_106_corsair_sets_to_raise_78_million_with_an_ipo_wants_shares_at_13.jpg

 

This SEC filing marks the first time that Corsair has specified a potential selling price for its shares. This has been a long time coming. Two years ago is when Corsair originally filed to become publicly traded. Its initial IPO filing in April 2010, Corsair estimated it would seek to raise $86 million.

 

According to the Mercury News:

 

During 2011, Corsair earned $19.4 million on sales of $455.2 million. In 2010, the company lost $10.2 million on sale. Compared to the year before, sales in 2011 jumped 20 percent. For the quarter that ended in March, Corsair earned $3.1 million on sales of $132.5 million. Compared to the year-ago quarter, profits fell 37 percent, while sales rose 23 percent, the company's SEC filing showed.

 

No date has been specified for when they would begin selling shares.

NEWS SOURCES:Mercurynews.com

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