Brookfield-managed Csquare, operating 64 data centers with 389MW capacity, files for NYSE IPO
BN•Csquare filed a registration statement with the SEC for a NYSE IPO under ticker CSQR, disclosing 64 data center sites across 21 markets with 389MW of sellable power and over 36,600 interconnection products as of March 31, 2026. Brookfield-controlled entities will retain majority voting power post-offering.
1. IPO Filing Details
Csquare has submitted a registration statement for an initial public offering of common stock on the New York Stock Exchange under ticker CSQR. The preliminary prospectus dated June 16, 2026 omitted share count and price range, while Morgan Stanley, TD Securities and Wells Fargo Securities lead the underwriting syndicate alongside seven other firms.
2. Infrastructure Footprint
The Coppell, Texas-based platform operates 64 data center sites across 21 metropolitan markets in the US, Canada and UK, delivering approximately 389 megawatts of sellable power capacity and offering over 36,600 interconnection products to more than 1,700 enterprise, network, cloud and technology customers.
3. Recent Financial Results
For the quarter ended March 31, 2026, Csquare generated $270.5 million in revenue, up 16% year-over-year, and reported a net loss of $66.0 million versus a $34.9 million loss in the prior period. Adjusted EBITDA rose 25% to $108.3 million, and full-year 2025 revenue was $987.0 million with $390.0 million in adjusted EBITDA, supported by $357.6 million of available liquidity.
4. Brookfield's Ownership
Entities managed or controlled by Brookfield Corporation and its affiliates will beneficially own a majority of the voting power of outstanding common stock following the offering, ensuring Brookfield retains decision-making control over Csquare's corporate governance.
