Target Hospitality Prices $259 Million Secondary Stock Offering

04:25 AM EDT, 09/09/2026 (MT Newswires) -- Target Hospitality (TH) has priced an upsized secondary offering of 14 million common shares held by Arrow and MFA Global at $18.50 each for expected gross proceeds of $259 million, the company said late Tuesday. Underwriters have been granted a 30-day option to purchase an additional 2.1 million shares. Target will not receive any proceeds from the offering. The company has agreed to repurchase $30 million of shares from the offering and expects to fund the buyback with available cash and borrowings under its credit facility, it said. Closing is expected to occur on Thursday, subject to customary closing conditions.