Target Hospitality prices secondary offering at $17 per share

Target Hospitality Corp. (NASDAQ: TH) announced the pricing of its secondary offering of 7 million shares of common stock at $17.00 per share. The shares are being sold by existing stockholders Arrow Holdings S.à r.l. and MFA Global S.à r.l., entities controlled by TDR Capital LLP.

The offering will generate approximately $119 million in gross proceeds for the selling stockholders before underwriting fees. Target Hospitality will not receive any proceeds from the sale, as the company is not issuing new shares in the transaction.

The closing is expected to occur on May 29, 2026, subject to standard conditions. The selling stockholders have granted underwriters a 30-day option to purchase up to an additional 1.05 million shares.

Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. are serving as book-running managers for the offering. Northland Securities, Inc., Oppenheimer & Co. Inc., Stifel, Nicolaus & Company, Incorporated and Texas Capital Securities are acting as co-managers.

The offering is being conducted under an effective shelf registration statement filed with the Securities and Exchange Commission in April 2019 and declared effective in May 2019.

Target Hospitality provides modular accommodations and hospitality services in North America, according to the company's press release statement.

You May Also Be Interested In

• Public Storage prices $900M senior notes offering at 4.855% rate
• Inventurus Knowledge Solutions completes TruBridge acquisition at $26.25 a share
• Figure Technology Solutions prices $600M senior notes offering