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.

Target Hospitality Corp. entered into a multi-year lease and services agreement to provide facility and hospitality services for a top-five hyperscaler's data center in West Texas, expected to generate approximately $250 million in revenue through August 2030. The company raised its full-year 2026 financial outlook, projecting total revenue between $435 million and $445 million and adjusted EBITDA between $105 million and $115 million. Target Hospitality is one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services.

Target Hospitality Corp. reported second quarter 2026 results with revenue increasing 39% to $85.5 million and Adjusted EBITDA rising over five times year-over-year to $18.2 million, despite a net loss of $9.0 million. The company raised its full-year 2026 revenue outlook by 11% to $410–$420 million and Adjusted EBITDA guidance by 13% to $85–$95 million. Since January 2026, Target Hospitality secured over $1.4 billion in multi-year contract awards for more than 9,000 beds in its Workforce Hospitality Solutions segment. On July 24, 2026, the company closed a new $660 million asset-based revolving credit facility to replace its previous $175 million facility, enhancing liquidity and reducing borrowing costs by up to 250 basis points. Target Hospitality Corp. is one of North America’s largest providers of vertically-integrated modular accommodations and value-added hospitality services.

Target Hospitality Corp. appointed Margaret Smyth and Erich Sanchack to its Board of Directors, effective August 4, 2026. Ms. Smyth joins the Audit Committee, bringing extensive financial leadership experience from roles at National Grid US, QIC Ltd., and Alvarez & Marsal. Mr. Sanchack serves on the Compensation Committee, contributing operational expertise in data centers and critical infrastructure gained as CEO of Salute and through senior positions at Digital Realty Trust and CenturyLink. Both directors are independent under Nasdaq standards. Target Hospitality is a provider of vertically integrated modular accommodations and value-added hospitality services.

Target Hospitality Corp. closed a new $660 million asset-based revolving credit facility on July 24, 2026, replacing its previous $175 million facility. The new facility has a five-year term maturing in July 2031 and includes an accordion feature to increase total commitments up to $850 million. Borrowings under the new facility are expected to bear interest at Term SOFR plus 2.25% to 3.00% based on the leverage ratio. Target Hospitality Corp. is a provider of modular accommodations and hospitality services in North America.