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- Controlled Company (new) — Brookfield will hold ~69% voting power, allowing it to control all stockholder decisions and exempting the company from certain NYSE governance rules.
- Material Weakness (new) — The company previously identified a material weakness in internal control over financial reporting, which could affect the accuracy of future financial statements.
- Dilution (new) — New investors pay $21.00 per share but receive only $(1.33) in pro forma net tangible book value, resulting in immediate dilution of $22.33 per share.
Csquare prices $1.05B IPO at $21/share; Brookfield keeps 69% voting control
Filed July 16, 2026 · ~1 min read
Key Changes
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Csquare is selling 50M shares at $21.00, raising $1.05B gross; net proceeds to the company are $921M after underwriting discounts and expenses.
The Offering verify on EDGAR → -
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The company will use $921M of net proceeds to repay debt, including its Revolving Credit Facility, Promissory Note, and Series 2024-1 Variable Funding Notes.
Use of Proceeds verify on EDGAR → -
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GAAP net loss was $164.9M for 2025, driven by higher interest expense and the absence of a $544.1M bargain purchase gain recorded in 2024.
Management's Discussion and Analysis verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 2, 2026 · How we verify