# EDGAR Filing Document

**Accession Number:** 0001712189
**File Stem:** 0001104659-26-046031
**Filing Date:** 2026-4
**Character Count:** 9418
**Document Hash:** ed7ae620ffee470629dd37a4ca78ab11
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-046031.hdr.sgml**: 20260421

**ACCESSION NUMBER**: 0001104659-26-046031

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 11

**CONFORMED PERIOD OF REPORT**: 20260421

**ITEM INFORMATION**: Results of Operations and Financial Condition

**FILED AS OF DATE**: 20260421

**DATE AS OF CHANGE**: 20260421

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Target Hospitality Corp.
- **CENTRAL INDEX KEY:** 0001712189
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOTELS, ROOMING HOUSE, CAMPS & OTHER LODGING PLACES [7000]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26879811

**BUSINESS ADDRESS:**
- **STREET 1:** 9320 LAKESIDE BLVD.
- **STREET 2:** SUITE 300
- **CITY:** THE WOODLANDS
- **STATE:** TX
- **ZIP:** 77381
- **BUSINESS PHONE:** 832 709-2563

**MAIL ADDRESS:**
- **STREET 1:** 9320 LAKESIDE BLVD.
- **STREET 2:** SUITE 300
- **CITY:** THE WOODLANDS
- **STATE:** TX
- **ZIP:** 77381

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Platinum Eagle Acquisition Corp.
- **DATE OF NAME CHANGE:** 20170718

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): April 21, 2026

**TARGET HOSPITALITY CORP.**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-38343** | **98-1378631** |
| (State or other jurisdiction of<br> incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |

---

**9320 Lakeside Blvd., Suite 300**

**The Woodlands** **, TX 77381**

(Address, including zip code, of principal executive offices)

**(800) 832-4242**

(Registrant's telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

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| |
|:---|
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

---

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br> Symbol(s)** | **Name of each exchange on which registered** |
| Common stock, par value $0.0001 per share | TH | The Nasdaq Capital Market LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 2.02. Results of Operations and Financial Condition.**

**Public Offering**

On April 21, 2026, Target Hospitality Corp. (the "Company") filed a preliminary prospectus supplement (the "Preliminary Prospectus Supplement") to its shelf registration statement on Form S-3 (File No. 333-230795) pursuant to Rule 424(b)(7) under the Securities Act of 1933, as amended (the "Securities Act"), relating to an underwritten public offering of the Company's common stock by certain of its stockholders. The Preliminary Prospectus Supplement contains certain preliminary unaudited estimated financial results for the three-month period ended March 31, 2026, as set forth below. Such preliminary results are furnished under the heading "Summary—Recent Developments—Preliminary Unaudited Estimated Financial Results for the Three-Month Period Ended March 31, 2026" in the Preliminary Prospectus Supplement.

**Preliminary Unaudited Estimated Financial Results for the Three-Month Period Ended March 31, 2026**

Set forth below are the preliminary unaudited estimates of certain financial information for the three-month period ended March 31, 2026, and actual unaudited financial information for the three-month period ended March 31, 2025. The Company's financial results for the three-month period ended March 31, 2026 will not be available until after the completion of the offering described in the Preliminary Prospectus Supplement. Accordingly, the Company's preliminary unaudited estimated financial results for the three-month period ended March 31, 2026 below are based solely on information available to the Company as of the date of the Preliminary Prospectus Supplement, and the Company undertakes no obligation to update this information, except as may be required by law. Actual results remain subject to the completion of management's review and the Company's other financial closing procedures, as well as the completion of the preparation of the Company's interim unaudited consolidated financial statements for the three-month period ended March 31, 2026. Accordingly, you should not place undue reliance on this preliminary data. As a result, the Company has provided ranges, rather than specific amounts, for the estimated financial results below. The Company's actual results may vary materially from the estimated preliminary results included below. These preliminary results should be read in conjunction with "Management's Discussion and Analysis of Financial Condition and Results of Operations" and the consolidated financial statements and related notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. The preliminary financial data included in the Preliminary Prospectus Supplement has been prepared by and is the responsibility of the Company's management. The Company's independent accountants, Ernst & Young LLP, have not audited, reviewed, compiled, or applied agreed-upon procedures with respect to the preliminary financial results. Accordingly, Ernst & Young LLP does not express an opinion or any other form of assurance with respect thereto.

The following tables provide detail on the Company's preliminary unaudited estimated financial results as of and for the three-month period ended March 31, 2026 and actual unaudited financial results for the three-month period ended March 31, 2025, and reconcile EBITDA and Adjusted EBITDA to net income (loss), the most directly comparable GAAP financial measure.

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| | | | |
|:---|:---|:---|:---|
|  | **For the period ended** | **For the period ended** | **For the period ended** |
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2025** |
|  | **($ in thousands)** | **($ in thousands)** | **($ in thousands)** |
|  | **(unaudited)** | **(unaudited)** | **(unaudited)** |
|  | **Estimated** | **Estimated** | **Actual** |
|  | **Low** | **High** |  |
| **Total revenue** | $**70500** | $**72500** | $**69897** |
| **Net loss** | $**(14693)** | $**(14093)** | $**(6459)** |
| Income tax expense (benefit) | (2463) | (2063) | (1316) |
| Interest expense, net | 892 | 892 | 4329 |
| Loss on extinguishment of debt |  |  | 2370 |
| Other depreciation and amortization | 4021 | 4021 | 3973 |
| Depreciation of specialty rental assets | 15575 | 15575 | 13672 |
| **EBITDA** | **3332** | **4332** | **16569** |
| **Adjustments** |  |  |  |
| Other expense (income), net<sup>(1)</sup> | 2628 | 2628 | 262 |
| Transaction expenses | 332 | 332 | 2830 |
| Stock-based compensation | 1658 | 1658 | 1716 |
| Other adjustments | 50 | 50 | 194 |
| **Adjusted EBITDA** | $**8000** | $**9000** | $**21571** |

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(1) Other expense (income), net amounts for the three months ended March 31, 2026 are primarily related
 to loss on disposal of assets and pre-opening costs for ramp up of new communities driven by growth in the Workforce Hospitality
 Solutions segment.

Pursuant to General Instruction B.2 of Form 8-K, the information contained in this Item 2.02 of this Current Report on Form 8-K shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, is not subject to the liabilities of that section and is not deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
|  | **Target Hospitality Corp.** | **Target Hospitality Corp.** |
| Date: April 21, 2026 | By: | /s/ Heidi D. Lewis |
|  | Name: | Heidi D. Lewis |
|  | Title: | Executive Vice President, General Counsel and Secretary |

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