WillScot Mobile Mini Holdings Announces Partial Redemption of Senior Secured Notes due 2023
WillScot Mobile Mini Holdings Corp. (Nasdaq: WSC) announced its indirect subsidiary, Williams Scotsman International, Inc., will redeem $49 million of its 6.875% Senior Secured Notes due 2023 on August 11, 2020. The redemption price is set at 103% of the principal amount, plus any accrued interest. Post-redemption, interest will cease to accrue on the notes. Investors holding these notes should contact their bank or broker for details regarding the redemption payment.
- Redemption of $49 million in Senior Secured Notes enhances balance sheet strength.
- Redemption at a premium (103%) indicates confidence in financial stability.
- Potential cash outflow of $49 million could impact liquidity.
- Redemption may limit available capital for future investments or operations.
PHOENIX, July 27, 2020 (GLOBE NEWSWIRE) -- WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini Holdings” 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
The Notes will be redeemed for a redemption price equal to
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.
Cautionary Statement Regarding 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. Forward-looking statements are subject to a number of risks, uncertainties, including the impacts of the COVID-19 pandemic, assumptions and other important factors, many of which are outside the Company’s control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. These forward-looking statements are only estimates, assumptions and projections and involve known and unknown risks and uncertainties, many of which are beyond the control of the Company. Important factors include: the Company’s ability to manage growth and execute its business plan; the risks and costs associated with the integration of the WillScot Corporation and Mobile Mini Inc. businesses; the Company's estimates of the size of the markets for its products; the rate and degree of market acceptance of its products; the success of other competing modular space and portable storage solutions that exist or may become available; rising costs adversely affecting its profitability (including cost increases resulting from tariffs); general economic and market conditions impacting demand for its products and services; the Company’s capital structure, levels of indebtedness and availability of credit; the ability to retain and hire key personnel and uncertainties arising from leadership changes; the ability to implement and maintain an effective system of internal controls; potential litigation involving the Company; implementation of tax reform; the changes in political conditions in the U.S. and other countries in which the parties operate, including U.S. trade policies or the U.K.’s withdrawal from the European Union; and such other risks and uncertainties described in the periodic reports the Company files with the SEC from time to time including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 2, 2020 and its Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, which was filed with the SEC on May 6, 2020, each of which are or will be available through the SEC’s EDGAR system at www.sec.gov. Any forward-looking statement speaks only as of the date on which it is made, and the Company assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
About WillScot Mobile Mini Holdings Corp.
WillScot Mobile Mini Holdings Corp. trades on the Nasdaq stock exchange under the ticker symbol “WSC.” Based in Phoenix, Arizona, WillScot Mobile Mini Holdings is a North American leader in modular space and portable storage solutions. It was formed in 2020 upon the merger of leaders in the modular space and portable storage markets. Together the WillScot and Mobile Mini brands operate approximately 275 locations across the United States, Canada, Mexico, and the United Kingdom with a combined fleet of over 350,000 portable offices and storage containers. They lease turnkey office space and storage solutions for temporary applications across a diverse customer base in the commercial and industrial, construction, retail, education, health care, government, transportation, security and energy sectors. They create value by enabling customers to add space efficiently and cost-effectively – when the solution is perfect, productivity is all the customer sees.
Contact Information
Investor Inquiries:
Emily Tadano
emily.tadano@willscotmobilemini.com
Media Inquiries:
Scott Junk
scott.junk@willscotmobilemini.com
FAQ
What is the redemption amount for WillScot Mobile Mini's Senior Secured Notes?
When is the redemption date for the Senior Secured Notes?
What is the redemption price for the Senior Secured Notes?
What happens to interest after the redemption date?
How can investors obtain information on the redemption payment?
