Corsair’s introductory stock price values the company at up to $1.65 billion null

Corsair reckons it is worth in the neighborhood of $1.65 billion, based on the numbers attached to its initial public offering (IPO). As part of that, it intends to sell 14 million shares at $16 to $18 a pop, which works out to $224 million to $252 million.

That includes 7.5 million shares sold by Corsair, and 6.5 million shares from selling stockholders. So where does the $1.65 billion valuation come from? According to Market Watch, the company will end up with 91,849,366 shares outstanding, which in stock trading parlance includes shares sold to the public and those earmarked for the company’s employees.

“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 says.

In other words, the market will dictate what Corsair’s shares are actually worth, and by extension, the company (based on its stock price, anyway—market cap is not always necessarily in line with a company’s worth).

Not bad for a company that some know best for its line of gaming peripherals, including keyboards and mice. Corsair got its start selling memory, and has since expanded to all sorts of PC hardware, including power supplies, storage products, streaming gadgets, and more.

In a related filing with the US Securities and Exchange Commission, Corsair revealed it raked in nearly $1.3 billion in revenue last year, albeit made a profit of ‘only’ $31 million.

Corsair has also expanded its reach over the years by acquiring various companies, including boutique builder Origin PC, high-end controller maker Scuf Gaming, and streaming product manufacturer Elgato.

Corsair will trade under the Nasdaq symbol CRSR.

PCGamer.com

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