Why Corsair Gaming (CRSR) Shares Are Plunging Today - Corsair Gaming (NASDAQ:CRSR)

Corsair Gaming, Inc CRSR priced 4.55 million shares at $16.50 per share in an underwritten public offering.
The global provider of high-performance gear for gamers and content creators granted the underwriters a 30-day option to purchase additional shares up to 0.68 million shares.
The gross proceeds from the offering will likely be $75.0 million.
Corsair currently plans to use the net proceeds for general corporate purposes.
Corsair Group (Cayman), LP (EagleTree), which owns most of its outstanding shares and through its general partner, will purchase 2.12 million shares in the offering at the same price and on the same terms as the other purchasers.
Corsair Gaming held $61.5 million in cash and equivalents as of September 30.
Price Action: CRSR shares traded lower by 9.43% at $16.51 on the last check Tuesday.

Momentum23.28

Growth1.51

Quality-

Value56.54

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Corsair Gaming Raises $75M Via Secondary Equity Offering