Target Hospitality Corp. filings document the public-company record for a Nasdaq-listed provider of modular accommodations and hospitality services. Its 8-K reports disclose operating results, investor presentations, Regulation FD business updates, contract announcements and material corporate events connected to its workforce communities and service offerings.
TH filings also cover common stock registration and capital-structure matters, including prospectus supplements and underwriting agreements for secondary offerings by selling stockholders. Proxy materials describe annual meeting proposals, board composition, committee service, executive compensation and equity incentive matters, while governance-related 8-K filings record director appointments and amendments to performance stock unit arrangements under the company incentive plan.
Target Hospitality Corp. reported Q1 2026 revenue of $72.8 million and a net loss of $13.0 million, or $0.13 per share, compared with a $6.5 million loss a year earlier. Gross profit declined sharply as services, construction and specialty rental costs rose faster than revenue.
Operating cash flow improved to $7.0 million from $3.9 million, helped by lower interest after redeeming prior notes and better collections. The company drew $30 million on its asset-based revolver and invested heavily in specialty rental assets, with $39.4 million of net cash used in investing activities.
Growth is being driven by long-term contracts in the Workforce Hospitality Solutions segment, including West Texas Power (about $129 million minimum revenue), Pecos Power (about $23 million) and a North Texas Data Center Hub (about $550 million minimum plus potential variable fees). After quarter-end, it signed an additional AI infrastructure community contract expected to generate more than $750 million of revenue, with $200–$210 million of related capital spending, further expanding its multi-year backlog.
Target Hospitality reported first quarter 2026 revenue of $72.8 million, up modestly from $69.9 million a year earlier, but net loss widened to $13.0 million and Adjusted EBITDA fell to $9.9 million from $21.6 million as new projects ramped and a key government contract ended.
Since February 2025, the company has secured over $2.0 billion of multi-year contracts, including roughly $1.8 billion in its fast-growing Workforce Hospitality Solutions segment and a new $750 million AI Infrastructure Community contract. Management plans $330–$340 million of net committed WHS capital through 2027 and targets annualized revenue above $680 million and Adjusted EBITDA above $240 million exiting 2027, supported by strong demand from data center and power-generation projects.
Hohnsbeen Paul reported acquisition or exercise transactions in this Form 4 filing.
Target Hospitality Corp. director Paul Hohnsbeen received a grant of 347 Restricted Stock Units on May 5, 2026 as part of his compensation for joining the board. Each RSU represents a right to receive one share of common stock or its cash equivalent upon vesting.
The 347 RSUs vest in full on May 21, 2026 under the Target Hospitality Corp. 2019 Incentive Award Plan and the related award agreement. Following this grant, Hohnsbeen holds 347 RSUs directly, with no open-market purchases or sales reported in this filing.
Target Hospitality Corp. director Paul Hohnsbeen filed an initial Form 3 reporting his ownership in the company. The filing states that no securities are beneficially owned, with 0 shares of common stock reported as owned as of May 5, 2026.
Target Hospitality Corp. appointed Paul Hohnsbeen, age 70, to its Board of Directors effective May 5, 2026, with his term running until the company’s 2027 Annual Meeting of Stockholders. He will serve as an independent director and join the Nominating and Corporate Governance Committee.
Hohnsbeen is a senior digital infrastructure and real estate executive with more than three decades of experience, including leadership roles at Aligned Data Centers, Equinix and several global financial institutions. He will receive the same compensation as other non-employee directors and enter into the company’s standard director and officer indemnification agreement.
TDR Capital–affiliated investors and related entities report large ownership and planned sales of Target Hospitality Corp. common stock. They collectively beneficially own 56,576,003 shares, representing 56.8% of the company’s common stock.
The group, including Sapphire Holding, Arrow Holdings and MFA entities, states an intention to sell or dispose of some or substantially all of their holdings over time through marketed offerings, open‑market and private transactions, or distributions. As part of this strategy, Arrow Holdings and MFA Global agreed to sell 8,050,000 shares in an underwritten secondary offering at $13.265 per share, which closed on April 23, 2026.
Target Hospitality Corp. disclosed that entities affiliated with TDR Capital participated in a secondary share sale. On April 23, 2026, MFA Global S.a r.l. (in liquidation) and Arrow Holdings S.a r.l. sold an aggregate 8,050,000 shares of common stock in an underwritten public offering at $13.265 per share.
After the transaction, the reporting group shows 56,576,003 shares of common stock held indirectly. Various TDR-related entities and individuals are described as potential beneficial owners through layered holding structures, while each TDR person formally disclaims beneficial ownership beyond any pecuniary interest.
Target Hospitality Corp. registered 7,000,000 shares of Common Stock for resale by affiliates of investment funds managed by TDR Capital LLP, with an underwriters’ option to purchase up to 1,050,000 additional shares. The offering is a resale by the selling stockholders; the Company will receive no proceeds.
The public offering price is $14.00 per share, implying proceeds to the selling stockholders of $92,855,000 before exercise of the option. Shares outstanding were 99,560,575 as of April 20, 2026, and the Company’s Nasdaq symbol is TH.
Target Hospitality Corp. disclosed that existing shareholders Arrow Holdings S.à r.l. and MFA Global S.à r.l. entered into an underwriting agreement to sell 7,000,000 shares of common stock in a registered secondary offering at $14.00 per share. The selling stockholders also granted underwriters a 30-day option to purchase up to 1,050,000 additional shares. Total gross proceeds to the selling stockholders are approximately $98,000,000, and the company will not receive any proceeds from this transaction.
Target Hospitality Corp. registered 7,000,000 shares of common stock for resale by affiliates of investment funds managed by TDR Capital; the underwriters have a 30-day option to purchase up to 1,050,000 additional shares. The company will receive no proceeds from these sales.
The prospectus supplement states 99,560,575 shares outstanding as of April 20, 2026 and that 8,487,178 shares are reserved for issuance upon exercise of outstanding options. The filing includes preliminary unaudited Q1 2026 ranges: total revenue $70,500–$72,500 thousand and Adjusted EBITDA $8,000–$9,000 thousand.
Target Hospitality Corp. registered 7,000,000 shares of common stock for resale by affiliates of investment funds managed by TDR Capital; the underwriters have a 30-day option to purchase up to 1,050,000 additional shares. The company will receive no proceeds from these sales.
The prospectus supplement states 99,560,575 shares outstanding as of April 20, 2026 and that 8,487,178 shares are reserved for issuance upon exercise of outstanding options. The filing includes preliminary unaudited Q1 2026 ranges: total revenue $70,500–$72,500 thousand and Adjusted EBITDA $8,000–$9,000 thousand.