Target Hospitality Announces Upsized Secondary Offering and Concurrent Stock Repurchase
Target Hospitality Corp. (Nasdaq: TH) has announced an upsized secondary offering of 14 million shares, priced at $18.50 per share, generating approximately $259 million in gross proceeds for the selling stockholders Arrow Holdings S.à r.l. and MFA Global S.à r.l., which are controlled by TDR Capital LLP. The company will not receive any of these funds but has agreed to repurchase shares worth around $30 million at the same price, using cash on hand and borrowings under its ABL Credit Facility. The offering is expected to close on September 10, 2026, with an option for underwriters to purchase up to an additional 2.1 million shares within 30 days. Morgan Stanley & Co., Deutsche Bank Securities Inc., and J.P. Morgan are acting as book-running managers. The transaction is being conducted under a previously filed registration statement on Form S-3, with prospectus details available through the SEC.
Topics: secondary stock offering treasury shares underwritten offering