Brookfield Asset Management-backed Csquare has launched an IPO that is expected to raise between US$1.15 billion and US$1.35 billion before underwriting discounts and commissions.

The Dallas-based digital infrastructure company is offering 50 million common shares priced between US$23 and US$27 each and expects to grant underwriters a 30-day option to purchase up to an additional 7.5 million shares. The stock is expected to trade on the New York Stock Exchange under the ticker symbol CSQR.

If the over-allotment option is exercised in full, gross proceeds could increase to between approximately US$1.3225 billion and US$1.5525 billion. Csquare said it intends to use part of the net proceeds to repay a portion of its outstanding debt and cover fees and expenses related to the offering, with the balance earmarked for general corporate purposes.

Morgan Stanley and TD Securities are serving as representatives of the underwriting syndicate, which also includes Wells Fargo Securities, BofA Securities, BMO Capital Markets, Scotiabank, Jefferies, J.P. Morgan, RBC Capital Markets, Societe Generale, Brookfield Capital Solutions, CIBC Capital Markets, National Bank of Canada Capital Markets and PNC Capital Markets LLC.

Dallas-based Csquare owns and operates a portfolio of carrier-neutral data centres across the United States, Canada and the United Kingdom, serving enterprise, network, cloud and technology customers.

Pictured: CSquare data centre in Atlanta.

Photo: CSquare