Business
Target Hospitality Announces Execution of Option Extension Creating Pathway for Long Term Humanitarian Community Contract
THE WOODLANDS, Texas, May 17, 2023 /PRNewswire/ -- Target Hospitality Corp. ("Target Hospitality," "Target" or the "Company") (Nasdaq: TH), one of North
About this update from Target Hospitality Corp.
[{"type":"text","content":"THE WOODLANDS, Texas, May 17, 2023 /PRNewswire/ -- Target Hospitality Corp. (\"Target Hospitality,\" \"Target\" or the \"Company\") (Nasdaq: TH), one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services, announced that on May 15, 2023, it executed the existing six-month contract extension option for the expanded humanitarian community previously announced on July 6, 2022 (\"Expanded Humanitarian Community\"). \nAs the Company previously stated, on May 9, 2023, the six-month extension option will remain through the current contract term of November 15, 2023, with no change to contract structure or the existing economic terms. \nIn preparation for the anticipated meaningful increase in demand for humanitarian housing solutions, the exercise of the extension option will allow for seamless continuity of service offerings at the Expanded Humanitarian Community and serve as a bridge prior to long term contract specifications being finalized. \nAbout Target Hospitality\nTarget Hospitality is one of North America's largest providers of vertically integrated modular accommodations and value-added hospitality services in the United States. Target builds, owns and operates a customized and growing network of communities for a range of end users through a full suite of value-added solutions including premium food service management, concierge, laundry, logistics, security and recreational facilities services.\nCautionary Statement Regarding Forward Looking Statements\nCertain statements made in this press release are \"forward looking statements\" within the meaning of the \"safe harbor\" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words \"estimates,\" \"projected,\" \"expects,\" \"anticipates,\" \"forecasts,\" \"plans,\" \"intends,\" \"believes,\" \"seeks,\" \"may,\" \"will,\" \"should,\" \"future,\" \"propose\" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside ou...