WillScot Mobile Mini Announces Partial Redemption of Senior Secured Notes Due 2025

Rhea-AI Summary

WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) announced the redemption of $58.5 million in 6.125% Senior Secured Notes due 2025 on June 16, 2021. The redemption price will be 103% of the principal amount plus accrued interest. This move is part of the company's financial strategy, aimed at improving its capital structure. Investors should reach out to their brokers for details on the redemption payment. Forward-looking statements in the release highlight potential risks and uncertainties affecting future results.

Positive

• Redemption of $58.5 million in Senior Secured Notes indicates a proactive approach to managing debt.
• Redemption at 103% shows potential value for noteholders.

Negative

• None.

PHOENIX, May 27, 2021 (GLOBE NEWSWIRE) -- WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the “Company”) (Nasdaq: WSC), a North American leader in modular space and portable storage solutions, today announced that its indirect subsidiary, Williams Scotsman International, Inc., will redeem $58,500,000 in aggregate principal amount of its outstanding 6.125% Senior Secured Notes due 2025 (the “Notes”) on June 16, 2021 (the “Redemption Date”).

The Notes will be redeemed for a redemption price equal to 103% of the principal amount of the Notes redeemed plus accrued and unpaid interest to but not including the Redemption Date (together, the “Redemption Payment”). From and after the Redemption Date, all interest will cease to accrue on the Notes redeemed.

Investors in the Notes should contact the bank or broker through which they hold a beneficial interest in the Notes for information about obtaining the Redemption Payment for the Notes redeemed in which they have a beneficial interest.

Forward-Looking Statements

This press release contains forward-looking statements 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. The words “estimates,” “expects,” “anticipates,” “believes,” “forecasts,” “plans,” “intends,” “may,” “will,” “should,” “shall,” “outlook” and variations of these words and similar expressions (or the negative thereof) identify forward-looking statements, which are generally not historical in nature. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in the Company’s Safe Harbor Compliance Statement for Forward-Looking Statements included in the Company’s recent filings, including Form 10-K and 10-Q, with the Securities and Exchange Commission. The forward-looking statements speak only as of the date made, and the Company undertakes no obligation to update these forward-looking statements.

About WillScot Mobile Mini Holdings Corp.

WillScot Mobile Mini Holdings trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Headquartered in Phoenix, Arizona, the Company is a leading business services provider specializing in innovative flexible workspace and portable storage solutions. WillScot Mobile Mini services diverse end markets across all sectors of the economy from a network of approximately 275 branch locations and additional drop lots throughout the United States, Canada, Mexico, and the United Kingdom.

Contact Information

Investor Inquiries:

Nick Girardi
nick.girardi@willscotmobilemini.com

Media Inquiries:

Scott Junk
scott.junk@willscotmobilemini.com

FAQ

What is the redemption amount announced by WillScot Mobile Mini Holdings Corp.?

WillScot Mobile Mini Holdings Corp. announced the redemption of $58.5 million in Senior Secured Notes.

When will the redemption of the Senior Secured Notes occur for WSC?

The redemption is scheduled for June 16, 2021.

What is the redemption price for the Senior Secured Notes due 2025?

The redemption price will be 103% of the principal amount plus accrued and unpaid interest.

How should investors claim the redemption payment for their notes?

Investors should contact the bank or broker through which they hold their beneficial interest in the notes.