Target Hospitality Closes Secondary Offering of Common Shares
MT Newswires Live
Sep 11
Target Hospitality (TH) has closed a secondary offering of 14 million common shares by the selling stockholders at $18.50 apiece, along with the full exercise of an overallotment option by the underwriters to buy up to an additional 2.1 million shares, the company said late Thursday.
Target Hospitality said it will not receive any proceeds from the offering.
The company added that it repurchased nearly 1.7 million common shares from the underwriters using cash on hand and borrowings under a credit facility.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.