Data center operator expects to raise about $1.15 billion to $1.35 billion before fees, with proceeds earmarked in part for debt repayment and general corporate purposes.
Csquare Inc. has launched its initial public offering of 50 million common shares at an expected price range of $23 to $27 each, implying gross proceeds of about $1.15 billion to $1.35 billion before underwriting discounts and commissions. The shares are expected to trade on the New York Stock Exchange under the ticker CSQR, and the company plans to grant underwriters a 30-day option to buy up to an additional 7.5 million shares, which would raise total gross proceeds to roughly $1.3225 billion to $1.5525 billion if exercised in full. Morgan Stanley and TD Securities are serving as representatives of the underwriters. The launch advances a deal that Csquare had previously filed with the SEC and positions the company among the larger infrastructure offerings in the market. Csquare said it will use part of the net proceeds to repay a portion of its outstanding debt and cover offering-related fees and expenses, with the balance reserved for general corporate purposes. Csquare describes itself as a North American digital infrastructure platform focused on carrier-neutral colocation and interconnection services. Headquartered in Dallas, the company owns and operates data centers across major metropolitan markets in the United States, Canada and the United Kingdom, serving enterprise, network, cloud and technology customers. Its facilities are designed to support hybrid cloud deployments, latency-sensitive applications and emerging AI-enabled workloads.