Csquare IPO Filing on NYSE
Csquare, Inc., a North American enterprise digital infrastructure platform headquartered in Coppell, Texas, filed a registration statement with the U.S. Securities and Exchange Commission on June 16, 2026, seeking to list common stock on the New York Stock Exchange under the ticker symbol CSQR. The preliminary prospectus did not disclose the number of shares to be offered nor the price range for the offering.
The company currently operates 64 centre sites across 21 metropolitan markets in the United States, Canada and the United Kingdom, delivering approximately 389 megawatts of sellable power capacity and more than 36,600 interconnection products as of March 31, 2026. Csquare serves over 1,700 enterprise, network, cloud and technology customers with carrier‑neutral colocation and interconnection services.
Following the offering, entities managed or controlled by Brookfield Corporation (NYSE:BN) or its affiliates will beneficially own a majority of the voting power of Csquare’s outstanding common stock.
Financial performance disclosed in the filing shows revenue of $270.5 million for the three months ended March 31, 2026, representing a 16% year‑over‑year increase from $232.8 million in the same period of 2025. For the full year ended December 31, 2025, revenue was $987.0 million, up 9% from $907.6 million in 2024. The company reported a net loss of $66.0 million for the quarter ended March 31, 2026, compared with a net loss of $34.9 million in the prior‑year quarter. Adjusted EBITDA for the quarter was $108.3 million, up from $86.3 million a year earlier, and for the year 2025 adjusted EBITDA totaled $390.0 million, up from $288.7 million in 2024. Total available liquidity as of March 31, 2026 stood at $357.6 million, comprising cash and cash equivalents, restricted cash and undrawn credit facility capacity.
Morgan Stanley, TD Securities and Wells Fargo Securities are named as lead underwriters for the IPO, with additional underwriting participation from BofA Securities, BMO Capital Markets, Scotiabank, Jefferies, J.P. Morgan, RBC Capital Markets and Societe Generale. Csquare commenced operations in January 2019 and is led by Chief Executive Officer Spencer Mullee.