Target Hospitality Prices $119M Secondary Offering of 7M Shares at $17
Target Hospitality Announces Pricing of Secondary Offering
Target Hospitality Corp. (NASDAQ: TH) has priced its secondary offering of 7 million shares of common stock at $17 per share, with gross proceeds expected to be approximately $119 million.
Offering Details
The shares are being offered by certain selling stockholders. The underwriters have been granted a 30-day option to purchase up to an additional 1.1 million shares of common stock. The offering is expected to close subject to customary conditions.
Target Hospitality provides hospitality and accommodation services. This secondary offering allows existing shareholders to monetize their holdings, while the company itself will not receive any proceeds from the sale.
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