The initial public offering price is expected to fall between $23.00 and $27.00 per share. Csquare also expects to grant underwriters a 30-day option to purchase up to an additional 7,500,000 shares at the IPO price, less underwriting discounts and commissions.

At the midpoint of the stated range, Csquare expects gross proceeds of approximately $1,150.0 million to $1,350.0 million, rising to roughly $1,322.5 million to $1,552.5 million should the underwriters fully exercise their over-allotment option.

Csquare intends to use a portion of the net proceeds to repay a portion of its outstanding indebtedness and to cover fees and expenses tied to the offering, with the remainder directed toward general corporate purposes.

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

Key Takeaways

• →Csquare has launched an IPO of 50,000,000 shares of common stock, expected to trade on the NYSE under the ticker "CSQR."
• →The offering price is expected to range between $23.00 and $27.00 per share.
• →Underwriters have a 30-day option to purchase an additional 7,500,000 shares.
• →Expected gross proceeds range from $1,150.0 million to $1,350.0 million, or up to $1,552.5 million with full over-allotment exercise.
• →Proceeds will be used to repay outstanding indebtedness, cover offering expenses, and fund general corporate purposes.
• →Morgan Stanley and TD Securities are leading a large syndicate of underwriters for the offering.