Firmus IPO Books Close Amid Investor Concern

Bloomberg reports that Firmus closed its IPO books as investors feared the deal could be pulled, citing people familiar with the matter.

Outcome unclear

The available excerpt describes growing concern about the Australian data center company's offering. It does not establish that the IPO was canceled or completed.

August commitments

In its August 7 announcement, Firmus said it had secured full commitments for a US$2 billion equity round. It named returning investors Coatue and NVIDIA, Blackstone-managed funds and Jane Street. These were company disclosures about that round, not confirmation of October's IPO outcome.

Expansion plans

Firmus said the capital would accelerate Project Southgate in Australia and prepare expansion into other Asia-Pacific markets. It cited established Australian manufacturing for its proprietary HyperCube platform and grid-aware software as supporting the rollout.

Reported valuation

The same announcement put new equity raised over the preceding year above US$3 billion and post-money valuation above US$10.5 billion. Both figures describe the company's August disclosure.