# Target Hospitality Corp. (TH) — capital_raise/public_offering [announced]
Source: SEC API (secapi.ai) · situation sit_818156b1d549ddaaebb8 · retrieved 2026-08-11T16:11:02.724Z

## Overview
Target Hospitality Corp. operates modular housing and lodging communities for temporary workforce accommodation, providing rental equipment and build-own-operate services.

On July 24, 2026, Target Hospitality Corp. and its subsidiaries, including Arrow Bidco, LLC, entered into a new senior secured asset-based revolving credit facility (the "New ABL Facility") with an aggregate principal amount of up to $660 million. On the closing date, Arrow Bidco borrowed $65.7 million to repay in full all outstanding borrowings under the Company's existing credit facility (which was subsequently terminated) and to pay fees and expenses related to the New ABL Facility. The New ABL Facility matures five years after the closing date (July 24, 2031). The facility is secured by a first priority security interest in substantially all assets of the borrowers and guarantors, and includes borrowing capacity for letters of credit up to $100 million and swingline loans up to $50 million.

## Terms
- Counterparty: JPMorgan Chase Bank, N.A., as Administrative Agent; PNC Capital Markets LLC and Wells Fargo Bank, National Association as Joint Lead Arrangers · Deal value: $660.0M

## Key dates
- Announced 2026-07-27

## Timeline
- 2026-07-27 · 8-K (0001104659-26-087099): 8-K - Target Hospitality Corp. — *Target Hospitality Corp. operates modular housing and lodging communities for temporary workforce accommodation, providing rental equipment and build-own-operate services.* On July 24, 2026, Target Hospitality Corp. and its subsidiaries, including Arrow Bidco, LLC, entered into a new senior secured asset-based revolving credit facility (the "New ABL Facility") with an aggregate principal amount of up to $660 million. On the closing date, Arrow Bidco borrowed $65.7 million to repay in full all outstanding borrowings under the Company's existing credit facility (which was subsequently terminated) and to pay fees and expenses related to the New ABL Facility. The New ABL Facility matures five years after the closing date (July 24, 2031). The facility is secured by a first priority security interest in substantially all assets of the borrowers and guarantors, and includes borrowing capacity for letters of credit up to $100 million and swingline loans up to $50 million.
  https://www.sec.gov/Archives/edgar/data/1712189/0001104659-26-087099.txt

## Citations
- 0001104659-26-087099 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926087099