#United States #The Woodlands #Secondary Offering #Stock Market #Target Hospitality

Target Hospitality Successfully Concludes Secondary Offering

Target Hospitality Corp., a leading provider in North America for vertically-integrated modular accommodations and value-added hospitality services, has announced the completion of a significant secondary offering. On April 23, 2026, the company closed an underwritten offering, selling 8,050,000 shares of common stock, with a full exercise of the underwriters' option to acquire an additional 1,050,000 shares.

Overview of the Offering

The offering, priced at $14.00 per share, was conducted by entities that are controlled by TDR Capital LLP. Notably, the company did not sell any shares during this offering and therefore did not benefit from any proceeds generated. Instead, the shares were held by Arrow Holdings S.à r.l. and MFA Global S.à r.l., both of which are tied to TDR Capital, the investment manager overseeing the transaction.

Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. played pivotal roles as book-running managers for this offering, supported by Northland Securities, Oppenheimer & Co. Inc., Stifel, Nicolaus & Company, Incorporated, and Texas Capital Securities as co-managers.

Regulatory Compliance and Availability

This offering was executed under an effective shelf registration statement on Form S-3, which was first filed with the Securities and Exchange Commission (SEC) on April 10, 2019, and deemed effective on May 16, 2019. The relevant documentation, including the final prospectus supplement and accompanying prospectus, is available through the SEC’s official website. Copies can also be requested from the book-running managers directly.

Forward-Looking Statements

The company has issued a caution regarding forward-looking statements related to the offering. Terms such as “estimates,” “projected,” and “expects” signal forward-looking statements that encompass various risks and uncertainties. These include market conditions, operational performance, and the inherent risks of the specialty rental accommodations and hospitality services sector.

Conclusion

Target Hospitality's recent secondary offering is a notable achievement, reflecting the ongoing interest and confidence from investors amid a dynamic market landscape. Despite the lack of direct proceeds from the offering, the successful execution demonstrates robust investor engagement and strategic market positioning. As the company continues to navigate its growth journey, market observers will be keenly monitoring its forthcoming developments and performance indicators in the hospitality sector.

For inquiries, investors can reach out to Mark Schuck at (832) 702-8009 or contact through the designated email address provided in the company's press release.