BALTIMORE, July 30, 2018 (GLOBE NEWSWIRE) -- WillScot Corporation (Nasdaq: WSC), a specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced the closing of its previously announced underwritten public offering of 8,000,000 shares of its Class A common stock, par value $0.0001 at a price to the public of $16.00 per share. In connection with the Offering, WillScot has granted the underwriters an option for 30 days to purchase up to an additional 1,200,000 shares of its Common Stock sold at the public offering price, less the underwriting discount.
The gross proceeds of the Offering are approximately $128.0 million. WillScot intends to use the net proceeds to fund, in part, the purchase price of its pending acquisition (the “ModSpace Acquisition”) of Modular Space Corporation (d/b/a “ModSpace”). WillScot expects to fund the balance of the purchase price and pay related fees and expenses with the net proceeds from debt financing. If, for any reason, the ModSpace Acquisition does not close, WillScot intends to use the net proceeds from the Offering for general corporate purposes.
Barclays, Deutsche Bank Securities, Morgan Stanley, BofA Merrill Lynch, Credit Suisse and ING were the joint book-running managers for the Offering. The Offering was made pursuant to an effective shelf registration statement, as amended, including a base prospectus, that was filed with the Securities and Exchange Commission (the “SEC”) and declared effective on April 3, 2018 and is available on the SEC website. A prospectus supplement and the accompanying base prospectus related to the Offering have been filed with the SEC on July 27, 2018 and are available on the SEC website. Copies of these documents may be obtained from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone: (888) 603-5847 or email: Barclaysprospectus@broadridge.com), Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005 (telephone (800) 503-4611 or email: prospectus.cpdg@db.com), Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, and BofA Merrill Lynch, Attention: Prospectus Department, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001 (email: dg.prospectus_requests@baml.com).
About WillScot Corporation
Headquartered in Baltimore, Maryland, WillScot Corporation is the public holding company for the Williams Scotsman family of companies in the United States, Canada and Mexico. WillScot Corporation trades on the NASDAQ stock exchange under the ticker symbol “WSC.” WillScot is a specialty rental services market leader providing innovative modular space and portable storage solutions across North America. WillScot is the modular space supplier of choice for the construction, education, health care, government, retail, commercial, transportation, security and energy sectors. With over half a century of innovative history, organic growth and strategic acquisitions, its branch network includes over 100 locations, its fleet comprises nearly 100,000 modular space and portable storage units, and its customer base has grown to approximately 35,000.
