Corsair Components, which designs and supplies personal computer gaming hardware components, announced terms for its IPO on Thursday. The Fremont, CA-based company plans to raise $78 million by offering 6.0 million shares (31% insider) at a price range of $12 to $14. At the midpoint of the proposed range, Corsair Components would command a market value of $269 million.
Sales increased 23% to $133 million for the quarter ended 3/31/12. Gross margin declined by more than 200 basis points to 15%, which was partly attributed to strong growth in lower-margin solid-state drive sales.
Corsair Components, which was founded in 1994 and filed for an $86 million IPO in April 2010, plans to list on the NASDAQ under the symbol CRSR. Barclays and Jefferies, which were listed as bookrunners in a filing last month, are no longer involved with the deal. Stifel Nicolaus Weisel and RBC Capital Markets are now the joint bookrunners.
Corsair is the thirteenth company to set terms this week.
