Corsair Gaming is planning to go public today, Sept. 23. The computer hardware company, which could raise about $238 million, is likely to offer about 14 million shares priced at $17 apiece. The deal is expected to close on Sept. 25. How can you buy into the Corsair Gaming stock IPO?
When is the Corsair Gaming stock IPO date?
On Sept. 22, Corsair Gaming announced the pricing of its IPO. The company plans to offer 14 million shares at $17 per share for total gross proceeds of about $238 million. The price is at the midpoint of its earlier range of $16–$18. Corsair is offering about 7.5 million shares, and 6.5 million shares are being sold by a selling stockholder. Also, the company has granted underwriters a 30-day option to buy an additional 2.1 million shares from the selling stockholder.
Where to buy into the Corsair Gaming stock IPO
You can purchase pre-IPO shares if you have a brokerage account with the underwriters for the deal and meet their eligibility criteria. Goldman Sachs, Credit Suisse, and Barclays are acting as lead bookrunners for the Corsair Gaming IPO. Baird, Cowen, Macquire Capital, and Stifel are also serving as bookrunners, and Wedbush and Academy Securities are serving as co-managers for the proposed deal.
How to buy into the Corsair Gaming stock IPO on Robinhood
To buy Corsair Gaming stock on Robinhood, you'll need to open a Robinhood stock trading account. Robinhood provides three account categories: Robinhood Instant, Robinhood Gold, and Robinhood Cash. Robinhood offers investors commission-free trading of stocks, ETFs, and options. Also, the online broker supports pre-IPO stock purchases, which might be ideal for investors looking to purchase Corsair Gaming stock in its IPO.
Robinhood allows investors to buy IPO stocks on their opening day at 8:00 a.m. ET. However, Robinhood users can only place limit orders, which doesn’t guarantee they will be filled.
Should I buy into the Corsair Gaming stock IPO?
Corsair Gaming, incorporated in Fremont, Calif., in 1994, sells gaming and e-sports hardware and software. The company competes with Razer and Logitech.
Investors should consider buying into the Corsair Gaming stock IPO based on the company's strong outlook. In its IPO filing, Corsair said it had sold about 190 million gaming and streaming products over the last two decades as of June 30, 2020. About 85 million of those products were sold in the last five years.
In the first six months of 2020, Corsair’s sales surged 42 percent year-over-year to $688.9 million. It posted a net loss of $15.9 million in the first half of 2019, but a net profit of $23.8 million in the first half of 2020.