Corsair Components Inc. is postponing its planned initial public offering of stock, citing market conditions.
The company designs and sells hardware components for personal computers with a focus on gaming hardware. It initially filed plans for an initial public offering in 2010, hoping to raise as much as $86.3 million for general corporate purposes, including working capital, capital expenditures and possible acquisitions.
Earlier this month, it said it intended to offer 6.9 million shares at a maximum price of $14.
Chief Executive Andy Paul said the company intends to re-launch its IPO when equity market conditions improve.
“Our business is growing, and is generating increasing profitability and cash flow,” said Paul, adding that the company has sufficient capital to allow it to continue to invest in the brand strength, products and personnel.
The company’s top and bottom lines have grown in recent years. In 2011, Corsair swung to a profit of $19.4 million.
Several other companies that planned IPOs, including TVAX Biomedical Inc. and Tria Beauty Inc., have recently withdrawn their filings or postponed their plans because of market conditions.