Target Hospitality Prices Upsized Secondary Offering and Stock Repurchase

Corporate Action
โดย PR Newswire·US·Read original
Summary · why it matters

Target Hospitality Corp. has priced an upsized secondary offering of 14 million shares at $18.50 per share, generating gross proceeds of approximately $259 million for selling stockholders Arrow Holdings and MFA Global, both controlled by TDR Capital. The company will not receive any proceeds from the offering, which is expected to close on September 10, 2026. Concurrently, Target Hospitality has agreed to repurchase approximately $30 million of its common stock from the underwriters at the offering price, funded by cash on hand and borrowings under its ABL credit facility. Morgan Stanley, Deutsche Bank Securities, and J.P. Morgan Securities are leading the offering as book-running managers.

Impact on stocks 4

Financials▲ · 3 stocks
Consumer Discretionary▲ · 1 stocks
Target Hospitality Corp
TH
± MixedCapitalrelevance

Target Hospitality priced an upsized 14M-share secondary offering by selling stockholders plus a concurrent $30M buyback, a mixed capital-markets event.

Off-coverage companies 4

Arrow Holdings S.à r.l.Private± Mixed
relevance

J.P. Morgan Securities LLCPrivate± Mixed
relevance

MFA Global S.à r.l.Private± Mixed
relevance

TDR Capital LLPPrivate± Mixed
relevance

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