Corsair Gaming (NASDAQ:CRSR) launched its initial public offering (IPO) on Wednesday and CRSR stock isn’t doing so hot.
Here’s what to know about the Corsair Gaming IPO.
- The company is trading its shares on the Nasdaq under the “CRSR” stock ticker.
- Shares in the IPO are priced at $17 each.
- The Corsair Gaming IPO offers 14 million shares of the stock.
- 7.5 million of these shares come directly from Corsair Gaming.
- The remaining 6.5 million shares come from a selling shareholder.
- There’s also a 30-day option for underwriters to purchase an additional 2.1 million shares at the IPO price.
- Corsair Gaming could gain as much as $163.2 million from the IPO.
- The lead book-running managers, as well as managers for the underwriters, of the offering, are Goldman Sachs, Barclays and Credit Suisse.
- Macquarie Capital, Baird, Cowen and Stifel are also serving as book-running managers for the IPO.
- Co-managers of the offering include Wedbush Securities and Academy Securities.
- Corsair Gaming currently expects the offering to end on Friday.
- As the name implies, Corsair Gaming has a focus on developing and creating accessories for gamers.
- That includes headsets, mice, keyboards, and more.
- The company bought Elgato, a maker of capture cards used by content creators, in 2018.
- It also picked up Origin Computers in 2019.
- Origin Computers is the creator of pre-made PC gaming rigs and laptops.
CRSR stock was down 12.5% as of Wednesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.