WillScot Mobile Mini Holdings Announces $500 Million Senior Secured Notes Offering
13 June 2024 - 10:54PM
WillScot Mobile Mini Holdings Corp. (“WillScot Mobile Mini” or the
“Company”) (Nasdaq: WSC), a leader in innovative temporary flexible
space solutions, today announced that its indirect subsidiary,
Williams Scotsman, Inc. (“WSI”), plans to offer, subject to market
and other conditions, $500 million aggregate principal amount of
senior secured notes due 2029 (the “Notes”). The Notes will be
WSI’s general second lien senior secured obligations, guaranteed on
a senior secured basis by each of WSI’s direct and indirect
domestic subsidiaries that guarantees WSI’s obligations under the
existing ABL credit facility and WSI’s direct parent, Williams
Scotsman Holdings Corp.
WSI intends to use the net proceeds of the offering to repay
approximately $493.5 million of outstanding borrowings under its
existing ABL credit facility and to pay related fees and
expenses.
The Notes will be offered only to persons reasonably believed to
be qualified institutional buyers pursuant to Rule 144A under the
Securities Act of 1933, as amended (the “Securities Act”) and to
non-U.S. persons outside the United States in accordance with
Regulation S under the Securities Act. The Notes and the related
guarantees will not be registered under the Securities Act or the
securities laws of any other jurisdiction, and may not be offered
or sold in the United States absent registration or an applicable
exemption from the registration requirements of the Securities Act
and other applicable securities laws. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
any securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
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 (or the negative thereof) 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 the Company’s control, which could cause
actual results or outcomes to differ materially from those
discussed in the forward-looking statements. Although the Company
believes that these forward-looking statements are based on
reasonable assumptions, they are predictions and the Company can
give no assurance that any such forward-looking statement will
materialize. Important factors that may affect actual results or
outcomes include, among others: the Company’s ability to acquire
and integrate new assets and operations; the Company’s ability to
judge the demand outlook; the Company’s ability to achieve planned
synergies related to acquisitions; regulatory approvals; the
Company’s ability to successfully execute its growth strategy,
manage growth and execute its business plan; the Company’s
estimates of the size of the markets for its products; the rate and
degree of market acceptance of its products; the success of other
competing modular space and portable storage solutions that exist
or may become available; rising costs and inflationary pressures
adversely affecting its profitability; potential litigation
involving the Company; general economic and market conditions
impacting demand for the Company’s products and services and its
ability to benefit from an inflationary environment; the Company’s
ability to maintain an effective system of internal controls; and
such other risks and uncertainties described in the periodic
reports the Company files with the SEC from time to time including
the Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2023, which was filed with the SEC on February 20,
2024 and its Quarterly Report on Form 10-Q for the quarterly period
ended March 31, 2024, which was filed with the SEC on May 2, 2024,
and are available through the SEC’s EDGAR system at www.sec.gov.
Any forward-looking statement speaks only as of the date on which
it is made, and the Company assumes no obligation to update or
revise such statement, whether as a result of new information,
future events or otherwise, except as required by applicable
law.
About WillScot Mobile Mini Holdings Corp.
WillScot Mobile Mini 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 and flexible temporary space solutions. The Company’s
diverse product offering includes modular office complexes, mobile
offices, classrooms, temporary restrooms, portable storage
containers, blast protective and climate-controlled structures,
clearspan structures, and a thoughtfully curated selection of
furnishings, appliances, and other services so its solutions are
turnkey for customers. WillScot Mobile Mini services diverse
customer segments across all sectors of the economy from a network
of approximately 260 branch locations and additional drop lots
throughout the United States, Canada, and Mexico.
Contact Information
Investor Inquiries:Nick
Girardiinvestors@willscotmobilemini.com
Media Inquiries:Jake Saylorjake.saylor@willscot.com
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