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Corsair Gaming selling up to $252 Million USD of stock in its IPO

Grab that cash with both hands and make a stash

In a statement sent out by Corsair…

“Corsair Gaming, Inc. (“Corsair”) announced that it has commenced an initial public offering of 14,000,000 shares of its common stock, approximately 7,500,000 of which are being offered by Corsair and approximately 6,500,000 of which are being offered by a selling stockholder. In connection with the offering, the underwriters will also have a 30-day option to purchase up to an additional 2,100,000 shares of common stock from the selling stockholder. The initial public offering price is estimated to be between $16.00 and $18.00 per share. Corsair has applied to list its common stock on the Nasdaq Global Market under the ticker symbol “CRSR.” The offering is subject to market conditions, and there can be no assurance as to whether, or when, the offering may be completed or as to the actual size or terms of the offering.”

Corsair Gaming Inc. CRSR,  the California-based provider of gaming gear and content looks to sell up to $252 million worth of shares and that the company would be have a value worth of close to $1.65 billion USD. With 14 million shares in the IPO (Initial Public Offering) the expected price is going to be somewhere around $16 to $18 a share. The IPO includes 7.5 million shares sold by Corsair Gaming, which could be valued at about $135 million, and 6.5 million shares from selling stockholders. The Corsair Gaming stock is expected to be listed on Nasdaq under the symbol “CRSR.”

According to the six months ended June 30, the company recorded a net income of $23.8 million on revenue of $688.9 million, after a loss of $15.9 million on revenue of $486.2 million in the same period a year ago. Corsair Gaming Inc. is looking to go public at a good time that the Renaissance IPO ETF IPO, 2.67% has rallied 27.1% over the past three months and the S&P 500 SPX, 1.51% has gained 9.9%

Start saving up those pennies!

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