Csquare Sinks 12% as DF Research Says It’s Built on “Failed” Legacy Centers

Csquare (CSQR) IPOed on NYSE July 16 at $21, selling 50M shares below the $23 to $27 range. After listing, shares rose about 2%. Bank of America initiated coverage with a buy and $46 price target. Q2 earnings rose to 47 cents, revenue $280.4M, up 15%, with $64.7M bookings. Multiple analysts set targets from $24 to $28.

Csquare, Inc. (CSQR) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Csquare Reports Record Second Quarter 2026 Results Revenue Increased 14.5% Year-Over-Year, Record Bookings of $64.7 Million, Net Loss of $48.8 Million Reflects Pre-IPO Capital Structure, and Adjusted EBITDA Grew 21% to $120.3M Second Quarter Highlights • Successfully

Csquare, Inc. (CSQR) priced its NYSE IPO at $21 per share on July 15, 2026, raising about $1.05B in gross proceeds after marketing shares at $23 to $27. The company operates 64 data center sites, with 389 MW sellable capacity as of Mar. 31, 2026, and reported about $1.02B trailing revenue, 16% YoY Q1 2026 growth, and a $150.94M trailing net loss.

Reuters reports Brookfield-backed data center provider Csquare debuted on the NYSE after pricing its IPO at $21 per share, below the marketed $23 to $27 range. Shares opened at $20.9 and closed at $20.67, valuing the company at $3.2 billion. The article cites investor caution over valuation, leverage, and ongoing losses.

Csquare, a Dallas-based data center provider, raised $1.05 billion in a US IPO, selling 50 million shares at $21 each, below its $23 to $27 range, valuing it at about $3.25 billion. The company plans to use proceeds to repay debt and cover offering costs. Shares trade on NYSE as CSQR on July 16; Brookfield will hold about 67% voting power.

Csquare, a Brookfield-backed data center operator, priced its IPO at $21 per share, raising $1.05 billion and below its $23-$27 target range, after a late rally. The stock fell 1.57% on day one. Proceeds are mainly for debt repayment. The company expects 1H revenue growth of 14%-16% and adjusted EBITDA up 19%-25%, but reported a Q1 loss.