McGrath Sets Date for Special Meeting of Shareholders to Vote on Acquisition by WillScot Mobile Mini

Rhea-AI Summary

McGrath RentCorp (Nasdaq: MGRC) has scheduled a special shareholder meeting on July 11, 2024, to vote on its proposed acquisition by WillScot Mobile Mini (Nasdaq: WSC).

The virtual meeting will occur at 2:00 PM Pacific Time via webcast. Shareholders of record as of May 31, 2024, are eligible to participate. For more information on the meeting and proposals, refer to the definitive proxy statement.

Positive

• Potential acquisition by WillScot Mobile Mini (Nasdaq: WSC) could enhance McGrath RentCorp’s market position.
• Virtual special meeting facilitates broader shareholder participation.
• Shareholders have clear notice and sufficient time to prepare for the vote.

Negative

• The acquisition might result in changes in company leadership and strategic direction.
• Shareholder value might be impacted if the acquisition terms are not favorable.
• Possible dilution of shareholder value depending on acquisition specifics.

LIVERMORE, Calif.--(BUSINESS WIRE)-- McGrath RentCorp (“McGrath” or the “Company”) (Nasdaq: MGRC), a leading business-to-business rental company, today announced that it will hold a special meeting of its shareholders (“Special Meeting”) on Thursday, July 11, 2024 to vote on the previously announced proposed acquisition by WillScot Mobile Mini (Nasdaq: WSC) and other related proposals.

The special meeting will be held virtually via webcast at www.meetnow.global/MV9LD74 at 2:00PM Pacific Time. The Board of Directors of McGrath has fixed the close of business on May 31, 2024, as the record date for determining the shareholders entitled to notice of and to vote at the Special Meeting and any adjournment or postponement thereof. To learn more about the Special Meeting and the proposals to be voted upon, reference the full definitive proxy here.

ABOUT MCGRATH:

McGrath RentCorp (Nasdaq: MGRC) is a leading business-to-business rental company in North America with a strong record of profitable business growth. Founded in 1979, McGrath’s operations are centered on modular solutions through its Mobile Modular and Mobile Modular Portable Storage businesses. In addition, its TRS-RenTelco business offers electronic test equipment rental solutions. The Company’s rental product offerings and services are part of the circular supply economy, helping customers work more efficiently, and sustainably manage their environmental footprint. With over 40 years of experience, McGrath’s success is driven by a focus on exceptional customer experiences. This focus has underpinned the Company’s long-term financial success and supported over 30 consecutive years of annual dividend increases to shareholders, a rare distinction among publicly listed companies.

McGrath is headquartered in Livermore, California. Additional information about McGrath and its businesses is available at mgrc.com and investors.mgrc.com.

Forward-Looking Statements

This press release contains forward-looking statements (including the guidance/outlook contained herein) within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended, including the anticipated timing of the meeting. Forward-looking statements are subject to a number of risks, uncertainties, assumptions and other important factors, many of which are outside our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Any forward-looking statement speaks only at the date on which it is made, and the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240611330862/en/

Investor inquiries

Keith E. Pratt

EVP & Chief Financial Officer

925-606-9200

Keith.Pratt@mgrc.com

Media inquiries

MediaRelations@MGRC.com

Source: McGrath RentCorp

FAQ

When is the McGrath RentCorp special shareholder meeting?

The special shareholder meeting is scheduled for July 11, 2024.

What is the purpose of McGrath RentCorp's special shareholder meeting?

The meeting is to vote on the proposed acquisition by WillScot Mobile Mini and related proposals.

Who is eligible to vote at McGrath RentCorp's special shareholder meeting?

Shareholders of record as of May 31, 2024, are eligible to vote.

How will McGrath RentCorp conduct its special shareholder meeting?

The meeting will be conducted virtually via a webcast.

What is the stock symbol for McGrath RentCorp?

The stock symbol for McGrath RentCorp is MGRC.