Overview
- Csquare launched its initial public offering on Monday with a 50 million-share listing expected to price between $23.00 and $27.00 per share for the ticker CSQR.
- The company said it expects gross proceeds of about $1.15 billion to $1.35 billion and granted underwriters a 30-day option to buy an extra 7.5 million shares.
- Csquare plans to use a material portion of net proceeds to repay outstanding debt, explicitly targeting a $734 million revolving credit facility and $4.3 billion of asset-backed notes.
- Brookfield will retain majority voting control after the IPO, and Morgan Stanley and TD Securities will lead a broad underwriting syndicate that includes Wells Fargo, BofA, Jefferies and J.P. Morgan.
- Csquare operates roughly 64 sites across the U.S., Canada and the U.K. with about 389 megawatts of capacity, reported Q1 2026 revenue of $270.5 million, and positions its retail colocation footprint to support high-density AI racks up to 150 kW per rack.