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.

@tracehagan
Published Fri, Apr 27 2012 3:33 PM CDT   |   Updated Tue, Nov 3 2020 12:28 PM CST

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.

Corsair sets to raise $78 million with an IPO, wants shares at $13 | TweakTown.com

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 SOURCE:mercurynews.com

Trace is a starving college student studying Computer Science. He has a love of the English language and an addiction for new technology and speculation. When he's not writing, studying, or going to class, he can be found on the soccer pitch, both playing and coaching, or on the mountain snowboarding.

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