Brookfield-backed Csquare targets up to $1.35B in NYSE data-centre IPO
What's the deal? CsquareDealroom has a profile for this one. Try Dealroom →, a Brookfield Asset ManagementDealroom has a profile for this one. Try Dealroom →-backed digital infrastructure company, has launched an IPO expected to raise between $1.15 billion and $1.35 billion before underwriting discounts and commissions. The Dallas-based firm is offering 50 million common shares priced between $23 and $27 each. It plans to trade on the New York Stock Exchange under the ticker CSQR.
Why go public? Csquare said it intends to use part of the net proceeds to repay a portion of its outstanding debt and cover offering fees and expenses, with the balance earmarked for general corporate purposes.
What's the endgame? The company owns and operates a portfolio of carrier-neutral data centres across the US, Canada, and the UK. Its customers span enterprise, network, cloud, and technology sectors.
The details: Underwriters will get a 30-day option to buy up to 7.5 million additional shares. If exercised in full, gross proceeds could rise to between roughly $1.3225 billion and $1.5525 billion.
Morgan StanleyDealroom has a profile for this one. Try Dealroom → and TD SecuritiesDealroom has a profile for this one. Try Dealroom → are serving as representatives of the underwriting syndicate. It also includes Wells Fargo SecuritiesDealroom has a profile for this one. Try Dealroom →, BofA SecuritiesDealroom has a profile for this one. Try Dealroom →, BMO Capital MarketsDealroom has a profile for this one. Try Dealroom →, Scotiabank, Jefferies, J.P. Morgan, RBC Capital Markets, Société Générale, Brookfield Capital Solutions, CIBC Capital Markets, National Bank of Canada Capital Markets, and PNC Capital Markets.
The signal: Csquare's listing points to sustained investor appetite for the physical infrastructure underpinning the cloud and AI boom, with a major asset manager tapping public markets to fund a growing data-centre footprint.
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