Target Hospitality prices 14 million share secondary offering at $18.50 per share
Selling stockholders affiliated with TDR Capital agreed to sell 14,000,000 Target Hospitality common shares at $18.50 per share in an underwritten offering, and the company will not receive any of the proceeds. Separately, the company agreed to buy back shares from the underwriters for approximately $30 million, funded with cash on hand and ABL Credit Facility borrowings, with the closing expected on September 10, 2026.
Key points
- 14,000,000 shares offered by Arrow Holdings S.à r.l. and MFA Global S.à r.l. at $18.50 per share, for approximately $259,000,000 in gross proceeds to the selling stockholders
- Company will not receive any proceeds from the offering
- Company to repurchase shares from the underwriters for approximately $30,000,000, to be held as treasury shares and funded with cash on hand and ABL Credit Facility borrowings
- Underwriters have a 30-day option to buy up to 2,100,000 additional shares; closing is expected on September 10, 2026
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 09, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.