WillScot Mobile Mini Announces Closing Of Third Secondary Offering Which Completes Full Sponsor Exit
September 15 2021 - 9:25AM
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 the closing of the
previously announced underwritten secondary offering (the
“Offering”) of 21,410,019 shares (the “Shares”) of its common
stock, par value $0.0001 per share (the “Common Stock”). The Shares
were offered by Sapphire Holding S.à r.l., an entity controlled by
TDR Capital (the “Selling Stockholder”), at a price to the public
of $28.50 per share. The Company did not offer any shares of Common
Stock in the Offering and did not receive any of the proceeds from
the Offering. In addition, the Company repurchased 2,379,839 shares
of Common Stock directly from the Selling Stockholder (the “Share
Repurchase”). The price per share paid by the Company was equal to
the price per Share paid by the underwriters for the Shares in the
Offering. The aggregate 23,789,858 shares of Common Stock
represented the entirety of TDR Capital’s remaining position in the
Company. In accordance with the terms of the shareholder agreement,
Stephen Robertson also resigned from the Company’s Board of
Directors. As of today, following the close of the transaction, the
Company has 223,993,904 shares of Common Stock outstanding, and
nearly 100% of the Company’s Common Stock is now held by
non-affiliates.
Brad Soultz, Chief Executive Officer, commented, “As this third
secondary offering closes, I am grateful to TDR for over a decade
of support for our legacy WillScot business. In particular, thank
you to both Steve Robertson and Gary Lindsay for their invaluable
service on the WillScot Mobile Mini Board of Directors. As we
continue to extend our impressive trajectory of growth and
associated stakeholder value creation, the talent that we are
attracting to WillScot Mobile Mini, across all levels of our
organization, is unprecedented. The departure of Steve and Gary
creates an opportunity to further diversify our Board with
directors of the highest caliber with the skills and perspectives
that support and enhance our strategy.”
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 identify forward-looking statements, which are
generally not historical in nature. 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 which it is made,
and WillScot Mobile Mini 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.
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
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