The IPO Buzz: Csquare & Standard Nuclear On the Mid-July Marquee

Two of this year’s top IPO sectors – AI data centers and nuclear energy – share the mid-July marquee. Csquare (CSQR Proposed), a data center operator in  the U.S., Canada and the U.K., and Standard Nuclear (STDN Proposed), an early-stage producer of nuclear fuel, plan to go public this week and raise a total of $1.61 billion. Both IPOs – set to price mid-week – are NYSE listings.

Two small-cap deals – Tarsier Pharma of Israel and Ticketplus of Chile – are in the offing with plans to raise a total of $70.1 million.

Let’s take a look.

Data Center Play from Big D

Csquare, based in the North Dallas suburb of Coppell, Texas, is an AI data center play.

The company is offering 50 million shares at $23.00 to $27.00 to raise $1.25 billion – if priced at the $25.00 mid-point.

Morgan Stanley, TD Securities, Wells Fargo Securities. BofA Securities, BMO Capital Markets and Scotiabank are leading the joint book-running team.

Csquare owns and runs 64 data centers in 21 major metro markets in the U.S., Canada and the U.K. It delivers about 389 MW (megawatts) of sellable power capacity and more than 36,000 interconnection products to over 1,700 enterprise, network, cloud and technology customers, the prospectus said. Its U.S. data centers are near cities from coast to coast. In Canada, Csquare has three data centers near Toronto and three near Montreal. Csquare also has a data center near London.

Brookfield of Canada will still control Csquare after the IPO.

The IPO’s proceeds will be used to pay off $1.17 billion in debt.

Csquare’s revenue has grown since 2023.

Csquare is not profitable: Net loss of $150.94 million on revenue of $1.02 billion for the 12 months that ended on March 31, 2026.

Nuclear Fuel from Tennessee

Standard Nuclear (STDN Proposed), an early-stage nuclear fuel company in Oak Ridge, Tennessee, bought the assets of bankrupt Ultra Safe Nuclear in late 2024.

The company is offering 18.25 million shares at  $18.00 to $21.00 to raise $355.88 million – if priced at the $19.50 mid-point.

BofA Securities and Goldman Sachs are leading the joint book-running team.

Standard Nuclear runs the only privately funded TRISO production plant in the U.S., according to the prospectus.

TRISO stands for “tristructural-isotropic” – poppyseed-sized fuel particles made from enriched uranium and coated in ceramic layers. The finished product is fuel for many types of advanced reactors.

After the IPO, Standard Nuclear founder Thomas Hendrix will still control the company.

Standard Nuclear, like most start-ups when they go public, is not profitable: Net loss of $14.97 million on revenue of $3.36 million for the 12 months that ended on March 31, 2026.

Source: https://www.iposcoop.com/the-ipo-buzz-csquare-standard-nuclear-on-the-mid-july-marquee/