Cardinal Infrastructure Group (CDNL) said Tuesday that it priced its initial public offering of 11.5 million Class A common shares at $21 per share, for total gross proceeds of about $241.5 million.

The company also granted the underwriters a 30-day option to buy up to an additional about 1.7 million shares.

The shares are expected to start trading on the Nasdaq Global Select Market on Wednesday under the ticker symbol "CDNL." The offering is expected to close on Thursday.