CSQUARE PRICES IPO BELOW RANGE, RAISES $1.05B

Csquare sold 50 million shares in its U.S. initial public offering, pricing below guidance as investor demand remained cautious. The $2-$6 discount from the upper end of the marketed range reflects softer appetite for data center IPOs in the current market environment. The pricing caps a period of cooling for infrastructure IPOs following a surge in data center valuations tied to artificial intelligence investment. Several technology and infrastructure companies have adjusted expectations or delayed public debuts over recent months amid market volatility and shifting investor sentiment. Csquare joins a handful of data center operators that have pursued public markets exits or debuts, competing in a sector benefiting from growing demand for computing capacity. The company's valuation of $3.25 billion reflects investor positioning ahead of broader market uncertainty.