Csquare launches IPO targeting up to $1.55B raise on NYSE

Csquare, Inc. announced the launch of an initial public offering of 50,000,000 shares of common stock, with an expected price range of $23.00 to $27.00 per share, according to a company statement.

The company expects gross proceeds of approximately $1.15 billion to $1.35 billion from the offering, before underwriting discounts and commissions. If underwriters exercise their over-allotment option in full, proceeds could reach approximately $1.32 billion to $1.55 billion. Csquare plans to grant underwriters a 30-day option to purchase up to an additional 7,500,000 shares at the initial public offering price.

The shares are expected to trade on the New York Stock Exchange under the ticker symbol CSQR.

Csquare intends to use a portion of the net proceeds to repay outstanding indebtedness and cover fees and expenses related to the offering. The remainder will be used for general corporate purposes.

The offering is being led by Morgan Stanley and TD Securities as representatives of the underwriter syndicate. Joint lead book-running managers include Morgan Stanley, TD Securities, Wells Fargo Securities, BofA Securities, BMO Capital Markets, and Scotiabank. Jefferies, J.P. Morgan, RBC Capital Markets, and Societe Generale are serving as joint book-running managers. Brookfield Capital Solutions, CIBC Capital Markets, National Bank of Canada Capital Markets, and PNC Capital Markets LLC are acting as co-managers.

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