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EX-3.2 - EX-3.2 - Corsair Gaming, Inc.d65933dex32.htm
EX-3.1 - EX-3.1 - Corsair Gaming, Inc.d65933dex31.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 25, 2020

 

 

CORSAIR GAMING, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-39533   82-2335306

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification Number)

47100 Bayside Pkwy

Fremont, California 94538

(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code: (510) 657-8747

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common Stock, $0.0001 par value per share   CRSR   The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 5.03

Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On September 25, 2020, Corsair Gaming, Inc.’s (the “Company”) amended and restated certificate of incorporation (the “Certificate of Incorporation”), filed with the Secretary of State of the State of Delaware on September 25, 2020, and its amended and restated bylaws (the “Bylaws”) became effective in connection with the closing of the initial public offering of shares of the Company’s common stock. As described in the Registration Statement on Form S-1 (File No. 333-248247), as amended, the Company’s board of directors and stockholders previously approved the amendment and restatement of these documents to be effective immediately prior to the closing of the Company’s initial public offering.

As amended and restated, the Certificate of Incorporation and the Bylaws contain provisions that, among other things:

 

   

authorize 300,000,000 shares of common stock;

 

   

delete all references to the various series of preferred stock that were previously authorized and instead create 5,000,000 shares of undesignated preferred stock with terms to be set by the board of directors, which rights could be senior to those of the common stock;

 

   

do not provide for cumulative voting in the election of directors, which means that stockholders holding a majority of the shares of common stock outstanding will be able to elect all directors;

 

   

allow the board of directors to alter the bylaws without obtaining stockholder approval;

 

   

eliminate the rights of stockholders to call a special meeting of stockholders and to take action by written consent in lieu of a meeting;

 

   

provide that directors may be removed with or without cause upon the affirmative vote of a majority of the Company’s outstanding common stock; provided, however, at any time when Corsair Group (Cayman), LP and its affiliates (“EagleTree”) beneficially own, in the aggregate, less than 50% of the Company’s outstanding common stock entitled to vote at an election of directors, directors may only be removed for cause and only by the affirmative vote of holders of at least 66-2/3% of the Company’s outstanding common stock;

 

   

require the approval of at least 50% of the shares entitled to vote, if EagleTree beneficially owns at least 50% of the shares entitled to vote and 66 2/3% of the shares entitled to vote, if EagleTree beneficially owns less than 50% of the shares entitled to vote, to adopt, amend or repeal the bylaws or amend, alter, change or repeal the Certificate of Incorporation;

 

   

unless the Company consents in writing to the selection of an alternative forum, designate the Court of Chancery of the State of Delaware (or, in the event that the Chancery Court does not have jurisdiction, the federal district court for the District of Delaware) to be the sole and exclusive forum for (i) any derivative action, suit or proceeding brought on behalf of the Company; (ii) any action, suit or proceeding asserting a claim of breach of a fiduciary duty owed by any of the Company’s directors, officers, employees or stockholders to the Company or its stockholders; (iii) any action, suit or proceeding arising pursuant to any provision of the Delaware General Corporation Law or the Certificate of Incorporation or the Company’s bylaws or as to which the Delaware General Corporation Law confers jurisdiction on the Chancery Court; or (iv) any action, suit or proceeding asserting a claim against the Company governed by the internal affairs doctrine; provided that, the exclusive forum provision will not apply to suits brought to enforce any liability or duty created by the Securities Exchange Act of 1934, as amended, or any other claim for which the federal courts of the United States have exclusive jurisdiction;

 

   

designate the federal district courts of the United States as the exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act of 1933, as amended, unless the Company consents in writing to the selection of an alternative forum; and

 

   

establish a classified board of directors, as a result of which the successors to the directors whose terms have expired will be elected to serve from the time of election and qualification until the third annual meeting following their election.

The foregoing description of the Certificate of Incorporation and the Bylaws is qualified in its entirety by reference to (1) the Certificate of Incorporation filed as Exhibit 3.1 hereto and (2) the Bylaws filed as Exhibit 3.2 hereto, each of which is incorporated herein by reference.


Item 8.01

Other Events.

On September 25, 2020, the Company completed its initial public offering, which included the selling of 7,500,000 shares of its common stock at a price to the public of $17.00 per share and a secondary offering of 6,500,000 shares of the Company’s common stock at a price to the public of $17.00 per share by certain selling stockholders as described in the Registration Statement on Form S-1 (File No. 333-248247), as amended. The gross proceeds to the Company from the initial public offering were approximately $118.6 million, after deducting underwriting discounts and commissions and before estimated offering expenses payable by the Company and the gross proceeds to the selling stockholders were approximately $102.8 million, after deducting underwriting discounts and commissions and before estimated offering expenses payable by the selling stockholders. The selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 2,100,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

 

Item 9.01

Financial Statements and Exhibits.

 

Exhibit No.

  

Description

3.1   

Amended and Restated Certificate of Incorporation of Corsair Gaming, Inc.

3.2   

Amended and Restated Bylaws of Corsair Gaming, Inc.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   CORSAIR GAMING, INC.
Date: September 25, 2020    By:  

/s/ Michael Potter

    

Michael Potter

Chief Financial Officer