TDR Capital sells 7M Target Hospitality shares at $17 in secondary offering; company gets $0

Filed May 28, 2026 · Period ending May 27, 2026 · ~1 min read

Key Changes

• high

  Private equity firm TDR Capital sold 7 million shares at $17.00 per share through Morgan Stanley and Deutsche Bank. Target Hospitality receives zero proceeds—all money goes to the selling shareholders.

  Item 1.01 view on EDGAR →
• medium

  Underwriters received a 30-day option to buy up to 1.05 million additional shares. If exercised fully, TDR Capital's stake reduction could reach 8.05 million shares total.

  Item 1.01 view on EDGAR →
• high

  This is a secondary offering by existing shareholders, not a capital raise. The company's balance sheet and cash position remain unchanged by this transaction.

  Item 1.01 view on EDGAR →