TDR Completes Secondary Offering of Target Hospitality Shares

Paul, Weiss advised TDR Capital as a selling stockholder in a secondary public offering of shares of its portfolio company, Target Hospitality Corp., one of North America’s largest providers of vertically integrated modular accommodations and specialty hospitality services. The offering resulted in total net proceeds to TDR of approximately $285 million. TDR now holds a 30.5% stake in Target Hospitality. Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC acted as lead bookrunning managers for the offering.

The Paul, Weiss team included corporate partners Christopher Cummings and David Holdsworth.