Financing ·
Target Hospitality Corp. announced the pricing of an upsized secondary offering of 14,000,000 shares of common stock…
THTarget Hospitality Corp.
Target Hospitality Corp. announced the pricing of an upsized secondary offering of 14,000,000 shares of common stock held by selling stockholders Arrow Holdings S.à r.l. and MFA Global S.à r.l., entities controlled by TDR Capital LLP. The shares were priced at $18.50 per share, generating approximately $259 million in gross proceeds for the selling stockholders. Concurrently, Target Hospitality agreed to repurchase 14,000,000 shares from the underwriters for approximately $30 million using cash on hand and borrowings under its ABL Credit Facility. The offering includes a 30-day option for the underwriters to purchase up to an additional 2,100,000 shares. Closing is expected on September 10, 2026. Target Hospitality Corp. operates in the specialty rental accommodations and hospitality services industry, providing vertically integrated modular accommodations.