Short answer
Target Hospitality Corp. (TH) filed an 8-K current report with the SEC on July 27, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation), Item EX-99.1 (Exhibit EX-99.1). Refinancing replaces existing credit facility with $660 million senior secured ABL revolver maturing July 2031.
Target Hospitality Corp. 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- Refinancing replaces existing credit facility with $660 million senior secured ABL revolver maturing July 2031
- $65.7 million drawn at closing to repay prior debt and cover refinancing fees and expenses
- Initial pricing: SOFR-based borrowings plus 2.50%; alternate base rate borrowings plus 1.50%
- Borrowing base limits availability to eligible assets; letters of credit capped at $100 million and swingline loans at $50 million
- Financial covenants include minimum fixed-charge coverage of 2.50:1 and maximum total leverage of 4.00:1
Item 2.03 · Creation of a Direct Financial Obligation
- Target Hospitality entered a new asset-based lending facility on July 27, 2026
- New borrowing capacity, interest terms, maturity, and collateral details are in Exhibit 99.1
- Facility may affect liquidity and financing flexibility as a direct financial obligation event
Item EX-99.1 · Exhibit EX-99.1
- New $660 million ABL facility replaces $175 million revolver, nearly quadrupling committed borrowing capacity
- Five-year maturity through July 2031 extends debt profile and strengthens liquidity for strategic growth
- Accordion permits up to $190 million additional commitments, potentially raising capacity to $850 million
- Interest at Term SOFR plus 2.25%–3.00%, with borrowing costs reduced by up to 250 basis points
- Liquidity supports commercial pipeline exceeding 20,000 beds across critical minerals, power generation, and data-center markets
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
Other Target Hospitality Corp. 8-K filings
Get the next TH 8-K as it lands
Follow TH for push alerts, or ask the research agent what this filing means.