Corsair Gaming Triples in Value in IPO Debut

Raises $238M in IPO debut

The Fremont-based PC and gaming hardware company raised $238 million in its IPO debut tripling its value at nearly $1.6 billion.

Corsair Gaming, Inc. (“Corsair”), a leading global provider and innovator of high-performance gear for gamers and content creators, announced today the pricing of its initial public offering of 14,000,000 shares of its common stock, 7,500,000 of which are being sold by Corsair and 6,500,000 of which are being sold by a selling stockholder, at a public offering price of $17.00 per share. 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 shares are expected to begin trading on the Nasdaq Global Select Market on September 23, 2020 under the ticker symbol “CRSR.” The closing of the offering is expected to occur on September 25, 2020, subject to satisfaction of customary closing conditions.

Goldman Sachs & Co. LLC, Barclays and Credit Suisse are serving as lead book-running managers and as representatives of the underwriters for the proposed offering. Macquarie Capital, Baird, Cowen and Stifel are also acting as book-running managers for the proposed offering. Wedbush Securities and Academy Securities are acting as co-managers for the proposed offering.

The offering will be made only by means of a prospectus. A copy of the final prospectus relating to this offering, when available, may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at 1-866-471-2526 or by e-mail at prospectusny@ny.email.gs.com; Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 1-888-603-5847 or by e-mail at barclaysprospectus@broadridge.com; or Credit Suisse, Attention: Credit Suisse Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by telephone at 1-800-221-1037 or by e-mail to usa.prospectus@credit-suisse.com.

A registration statement on Form S-1 relating to these securities was declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

 

 

About Corsair

Founded in 1994, CORSAIR has grown from pioneering the high-performance DRAM market into one of the world’s leading providers of high-performance gaming and streaming products. CORSAIR offers a complete range of products to equip gamers, enthusiasts, and esports athletes, including mechanical keyboards, precision gaming mice, wireless headsets, premium PC components, and the CORSAIR ONE fully-integrated gaming PC. With a company-wide commitment to quality, innovative design, advanced features and high-performance, CORSAIR products have won thousands of media and industry awards, earning their place in gamers’ hands and PCs following years of development and engineering by a team dedicated to building great products that they themselves would want to use.

In 2018 CORSAIR acquired Elgato Gaming, a manufacturer of streaming products. In 2019 CORSAIR acquired Origin Computers, a manufacturer of custom high-performance gaming PCs and laptops, and SCUF Gaming, an innovator and creator of high-performance gaming controllers.

 

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