Corsair Gaming has filed an amended S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering (IPO). With this release, Corsair announced the potential price range, so that means the IPO is just around the corner. The company intends to list its shares on the Nasdaq under the symbol CRSR.
The company said that it intends to price its 14.0 million shares in the range of $16 to $18 apiece, with an overallotment option for an additional 2.1 million shares. At the maximum price, the entire offering is valued up to $289.8 million. Note that the company is offering 7.5 million shares and the selling stockholders are offering the remaining 6.5 million shares.
The underwriters for the offering are Goldman Sachs, Barclays, Credit Suisse, Macquarie Capital, Baird, Cowen, Stifel, Wedbush and Academy Securities.
This company is a global provider and innovator of high-performance gear for gamers and content creators. Corsair’s industry-leading gaming gear helps digital athletes, from casual gamers to committed professionals, to perform across PC or console platforms, and its streaming gear enables creators to produce studio-quality content to share with friends or to broadcast to millions of fans. To put it simply, this company designs and sells high-performance gaming and streaming peripherals, components and systems to enthusiasts globally.
As of June 30, 2020, the company had shipped over 190 million gaming and streaming products since 1998, with over 85 million in the past five years. Corsair’s gear is sold to end users in more than 75 countries, primarily through online and brick-and-mortar retailers, including leading global retailers such as Amazon and Best Buy, and through its direct online channel.
For 2017, 2018 and 2019, net revenue was $855.5 million, $937.6 million and $1,097.2 million, respectively. For the same periods, the firm generated adjusted net income was $34.3 million, $20.0 million and $27.5 million. Also, adjusted earnings before interest, taxes, depreciation and amortization came out to $67.5 million, $67.4 million and $71.6 million for these respective years.
The company intends to use the net proceeds from the offering to repay indebtedness, as well as for working capital and general corporate purposes.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
