Csquare, Inc. reported that Chief Operating Officer Sean Patrick Charnock acquired 266,666 shares of common stock at $21 per share as a result of the IPO, with 200,000 shares subject to time-based vesting, 1/3 on April 30, 2027 and the next two anniversaries.
He also received 330,142 IPO rollover restricted stock units and 21,428 additional restricted stock units under the 2026 Omnibus Incentive Plan, each RSU representing one share of common stock and vesting in equal annual installments starting on March 30, 2027 and July 15, 2027, respectively.
Csquare, Inc. completed its initial public offering, entering an underwriting agreement with Morgan Stanley & Co. LLC and TD Securities (USA) LLC to sell 50,000,000 shares of common stock at $21.00 per share, plus an option for up to 7,500,000 additional shares. The base sale closed on July 17, 2026 and generated $1,010.0 million in net proceeds after underwriting discounts and commissions.
The company also entered into a Registration Rights Agreement with Brookfield, giving Brookfield demand, shelf and piggyback registration rights, including Form S-3 shelf rights once eligible, for offerings expected to produce at least $50.0 million of proceeds, with registration expenses paid by Csquare and customary blackout and underwriter-driven limits. For so long as Brookfield and affiliates own at least 20% of outstanding common stock, Csquare may not grant registration rights to others without Brookfield’s consent.
A separate Stockholders Agreement with Brookfield ties board representation and governance to ownership levels: Brookfield may nominate a proportional number of directors (a majority if it owns more than 50%), while it owns at least 5% of outstanding shares; it also receives specified information rights while owning at least 3%, and consent rights over certain significant actions while owning at least 20%. Csquare’s certificate of incorporation and bylaws were amended and restated in connection with the IPO, including a waiver of certain corporate opportunities in favor of Brookfield.
Csquare, Inc., a North American data-center operator, is conducting an initial public offering of 50,000,000 shares of common stock at $21.00 per share, for gross proceeds of $1.05 billion. An additional 7,500,000 shares may be sold under an over-allotment option.
The company expects net proceeds of about $1.01 billion, primarily to repay $921.0 million of borrowings under its revolving credit facility, a promissory note and variable funding notes, with the balance used to repay Series 2020-2 Class A-2 notes and offering expenses. After the IPO, 155,020,702 shares of common stock will be outstanding.
Csquare operates 64 sites across 21 metro markets with 389 MW of Sellable Power Capacity, serving more than 1,700 customers and generating largely recurring colocation and interconnection revenue. For the six months ended June 30, 2026, it preliminarily estimates revenues of $546.7–$552.2 million, Adjusted EBITDA of $221.1–$231.2 million, and a net loss of $111.7–$122.7 million.
Following the offering, Brookfield-related entities will beneficially control approximately 69.0% of the voting power, making Csquare a “controlled company” under NYSE rules and allowing certain corporate governance exemptions.
Csquare, Inc. has a Form 3 reporting that Andrea Renee White serves as Chief Accounting Officer and is an officer reporting person. The structured data lists no buy, sell, acquisition, disposition, or derivative transactions and shows no reported holdings at this time.
Csquare, Inc. director John F. Jr. Waters filed an initial statement of beneficial ownership as a reporting insider. The report lists no insider transactions, no equity holdings and no derivative securities positions for Waters in Csquare at the time covered. This establishes his baseline ownership status as a director.
Csquare, Inc. has an initial beneficial ownership statement for officer Simmons Smith Catherine A. on Form 3. The statement identifies her as an officer but does not show any reportable holdings of Csquare, Inc. equity securities or derivative positions for this reporting person.
Csquare, Inc. director Terri Pizzuto filed an initial Form 3 statement of beneficial ownership. The filing records her status as a director of the company and reports no share transactions, acquisitions, gifts, or derivative securities positions, with all transaction-related counts disclosed as zero.
Csquare, Inc. director Caroline Weathers Petersen filed an initial Form 3 reporting her beneficial ownership as an insider. The reported data lists no buy, sell, or derivative transactions and reflects her status as a director of Csquare, Inc. subject to insider reporting requirements.
Csquare, Inc. director and Chief Executive Officer Spencer Edward Mullee is identified as a reporting person for CSQR on Form 3. He is not flagged as a ten percent owner. The structured data shows no reported equity or derivative transactions, and all transaction and share-count fields are zero in this report.