Csquare sells 50 million shares, raises $1.05B in US IPO
Business
Csquare, a Dallas-based data center company, just raised $1.05 billion in its US IPO, selling 50 million shares at $21 each, which is a bit lower than expected.
Now valued at about $3.25 billion, Csquare's big debut highlights how much investors are betting on companies powering the AI boom.
Brookfield retains 67% control of Csquare
Launched in 2019, Csquare has quickly grown to 64 data centers across North America and the UK helping businesses stay connected and run AI workloads.
Some of the IPO cash will go toward paying off debt and covering offering costs.
Even after going public, Brookfield still controls 67% of voting power, so it's sticking around for the long haul, with Morgan Stanley and TD Securities leading the way on this deal.