Target Hospitality completes secondary offering of 8.05 million shares

Target Hospitality Corp. (NASDAQ: TH) completed its secondary offering of 8,050,000 shares of common stock at $14.00 per share, according to a company statement. The offering included the full exercise of underwriters' option to purchase an additional 1,050,000 shares.

The shares were sold by Arrow Holdings S.à r.l. and MFA Global S.à r.l., entities controlled by TDR Capital LLP. Target Hospitality did not sell any shares in the offering and received no proceeds from the transaction.

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

The offering was conducted under an effective shelf registration statement on Form S-3 that was initially filed with the Securities and Exchange Commission on April 10, 2019 and declared effective on May 16, 2019.

Target Hospitality provides modular accommodations and hospitality services in North America.

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