Target Hospitality prices upsized secondary offering at $18.50 per share
The company sells 14 million shares held by investors and concurrently repurchases ~$30 million of stock using cash and credit facility borrowings.
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Remote workforce accommodation and hospitality services provider
targethospitality.comLast updated
In short: Target Hospitality expanded hyperscaler data center contracts, raised guidance, and opened its 3,700-bed Texas hub in 2026.
The company sells 14 million shares held by investors and concurrently repurchases ~$30 million of stock using cash and credit facility borrowings.
The agreement supports a top hyperscaler data center and raises the company's full-year 2026 revenue and EBITDA outlook significantly.
Revenue increased 39% to $85.5 million, Adjusted EBITDA rose to $18.2 million, and the company raised its full-year outlook by 11% and 13% respectively.
The company added Margaret Smyth and Erich Sanchack on August 4, 2026. They join the Audit and Compensation Committees respectively.
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