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WillScot Holdings Corporation provides temporary space, modular building and storage solutions for customers across North America. Company news commonly covers quarterly results, full-year outlook updates, leasing and services revenue, Adjusted EBITDA, free cash flow, unit activations, order activity and capital spending tied to its temporary space platform.
WillScot updates also address quarterly cash dividends, investor conference participation and product expansion across its portfolio of modular complexes, mobile offices, classrooms, portable storage, climate-controlled units, blast-resistant buildings, clearspan structures, temporary restrooms, furnishings and fencing and perimeter-security solutions. Its operating coverage spans the United States, Canada and Mexico and serves sectors including construction, manufacturing, healthcare, government, energy and education.
WillScot Mobile Mini Holdings has announced the pricing of a $500 million senior secured notes offering through its subsidiary, Williams Scotsman. The notes, carrying a 6.625% interest rate, are due in 2029 and were priced at 100% of their face value. The offering is expected to close around June 28, 2024, subject to customary conditions. The proceeds will be used to repay $493.5 million of the company's existing ABL credit facility and cover related fees and expenses. The notes are offered to qualified institutional buyers and international investors, in compliance with Rule 144A and Regulation S under the Securities Act of 1933.
WillScot Mobile Mini Holdings, a leader in temporary flexible space solutions, announced a $500 million senior secured notes offering by its subsidiary, Williams Scotsman. The notes, due 2029, will be guaranteed by WSI's domestic subsidiaries and intended to repay outstanding borrowings of approximately $493.5 million under its current ABL credit facility. The offering is aimed at institutional buyers under Rule 144A and non-U.S. persons per Regulation S. The notes won't be registered under the Securities Act and can't be sold in the U.S. without registration or an applicable exemption.
McGrath RentCorp (Nasdaq: MGRC) has scheduled a special shareholder meeting on July 11, 2024, to vote on its proposed acquisition by WillScot Mobile Mini (Nasdaq: WSC).
The virtual meeting will occur at 2:00 PM Pacific Time via webcast. Shareholders of record as of May 31, 2024, are eligible to participate. For more information on the meeting and proposals, refer to the definitive proxy statement.
WillScot Mobile Mini Holdings Corp. reported solid first quarter 2024 results, with a 4% revenue increase to $587 million and $56 million income from continuing operations. Adjusted EBITDA remained flat at $248 million, with a 40% rise in net cash provided by operating activities and free cash flow. The company maintained its FY 2024 Adjusted EBITDA outlook of $1,125 million to $1,200 million, representing 6% to 13% growth. WillScot Mobile Mini returned $595 million to shareholders through share repurchases and expects to close the McGrath RentCorp acquisition in 2024.
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