Csquare Inc., a Dallas-based data center operator backed by Brookfield, has filed with the U.S. Securities and Exchange Commission to raise as much as $1.35 billion in an initial public offering.
Csquare intends to use the proceeds to repay its $734 million revolving credit facility, a $75 million promissory note owed to Brookfield, and a portion of its $4.3 billion in asset-backed notes, Bloomberg reported.
Founded in 2019, Csquare owns and operates more than 60 data center sites across the U.S., Canada and the U.K., providing colocation and interconnection services under contracts ranging from one to seven years. The IPO comes amid strong investor interest in AI infrastructure and data center assets.