Overview
- Csquare submitted a confidential S-1 registration with the SEC and applied to list on the New York Stock Exchange as CSQR after a dual‑track review that favored an IPO over a private sale, with the confidential filing dated on or about April 24, 2026.
- The Dallas‑based company operates roughly 80 facilities across about 30 markets, totaling near 3.5 million square feet of space and more than 500 megawatts of power capacity for colocation and wholesale customers.
- Csquare reported rising revenue in its IPO filing, with quarterly revenue of $270.5 million for the three months ended March 31, 2026 and annual revenue for 2025 up about 8.8 percent year over year, while posting a net loss per share of $0.14 for the quarter.
- Morgan Stanley and TD Securities are leading the advisory effort and a broad syndicate of underwriters including Wells Fargo Securities and BofA Securities is in place, though share count, price range and exact timing remain undisclosed until a public prospectus is released.
- Brookfield’s choice of an IPO reflects belief that public comparables such as Equinix and Digital Realty trade at high valuations, and a successful listing could speed Brookfield’s exit and draw more investor capital into power‑intensive digital infrastructure.