PHOENIX, Sept. 15, 2021 (GLOBE NEWSWIRE) — 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.