THE WOODLANDS, Texas–(BUSINESS WIRE)–Arrow Bidco, LLC, a Delaware constrained legal responsibility agency (the “Issuer”), introduced nowadays that it completed its offering of $340 million in combination principal quantity of its 9.50% senior secured notes due 2024 (the “Notes”). The Issuer intends to apply the proceeds of the supplying, collectively with finances from other assets, to (i) fund Target Logistics Management, LLC’s (“Target Lodging”) and RL Signor Holdings LLC’s (“Signor Lodging”) planned business aggregate (the “Business Combination”) with Platinum Eagle Acquisition Corp., a Nasdaq-indexed unique reason acquisition enterprise (“Platinum Eagle”), (ii) pay off in full certain current third-birthday party and intercompany indebtedness and (iii) pay expenses and costs incurred in connection with the Business Combination.
After impacting the Business Combination, the Issuer can be the direct figure of Target Lodging and Signor Lodging and an oblique, fully-owned subsidiary of Platinum Eagle (so one can be renamed “Target Hospitality” in connection with the Business Combination). The Notes were presented in a private placement transaction to qualified institutional customers according to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outdoor the United States to non-U.S. Men and women according to Regulation S beneath the Securities Act. The Notes have now not been registered below the Securities Act or the securities legal guidelines of some other jurisdiction. They won’t be provided or sold in the United States absent registration or an applicable exemption from registration requirements.
The Issuer is the direct parent of Signor Lodging and a direct subsidiary of Arrow Parent Corp. (“Arrow Parent”). About the Business Combination, Arrow Parent will merge with and into Topaz Holdings LLC (“Topaz Holdings”), an entirely owned subsidiary of Platinum Eagle and, as a result, Arrow Bidco turns into a direct absolutely-owned subsidiary of Topaz Holdings. About Target Lodging Founded in 1978, Target Lodging is the most important vertically incorporated unique apartment and hospitality services enterprise within the United States. The agency is targeted at constructing, owning, and operating housing communities across numerous give-up markets, along with oil and gas, strong infrastructure, and authorities.
Target Lodging provides value-effective and custom-designed forte condominium resorts, culinary services, and hospitality answers, including site layout, creation, operations, safety, home tasks, catering, concierge offerings, and fitness and undertaking centers part of its incorporated housing and hospitality communities. Target Lodging changed into named by way of Inc. Magazine in 2012 and 2013 as one in every of “America’s Fastest-Growing Private Companies.” Target Lodging has been an Algeco organization for the reason that 2013. About Signor Lodging Signor Lodging, founded in 1990, makes a specialty of advanced remote personnel housing serving oil and gasoline customers at some stage in the Permian and Eagle Ford Basins. Signor Lodging operates nine residences across West Texas, Southeast New Mexico, and Oklahoma.
Platinum Eagle’s Platinum Eagle was formed to effect a merger, percentage alternate, asset acquisition, percentage buy, reorganization, or comparable enterprise mixture with one or more agencies. Platinum Eagle raised $325 million in its preliminary public providing and started buying and selling on Nasdaq in January 2018. Its Class A everyday stocks, gadgets, and warrants alternate under the ticker symbols EAGL, EAGLU, and EAGLE. Forward-Looking Statements Certain statements made in this launch are “ahead-searching statements” within the meaning of the “secure harbor” provisions of the US Private Securities Litigation Reform Act of 1995. When used on this press release, the phrases “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may also,” “will,” “should,” “future,” “propose” and variations of those phrases or similar expressions (or the poor versions of such phrases or expressions) are meant to become aware of forward-searching statements.
These forward-looking statements are not guarantees of destiny performance, conditions or results, and contain several regarded. Unknown dangers, uncertainties, assumptions, and other important factors, many of which are outdoor Platinum Eagle’s, Target Lodging’s or Signor Lodging’s control, that would motive real results or results to differ materially from those discussed inside the ahead-looking statements. Important elements, amongst others, which could affect real results or consequences encompass the inability to complete the business aggregate (including due to the failure to get hold of required shareholder approvals, or the failure of other remaining conditions); the incapacity to recognize the predicted advantages of the proposed commercial enterprise combination; the incapability to satisfy Nasdaq listing requirements; prices associated with the enterprise combination; Target Hospitality’s potential to manage growth; Target Hospitality’s potential to execute its business plan and meet its projections; Target Hospitality’s ability to pick out, consummate and integrate acquisitions; growing charges adversely affecting Target Hospitality’s profitability; potential litigation regarding Platinum Eagle, Target Lodging, Signor Lodging, or after the closing, Target Hospitality, and popular economic and market conditions impacting call for Target Lodging’s services and products, and mainly financial and market conditions inside the oil enterprise in the markets wherein Target Hospitality operates.
None of Platinum Eagle, Target Lodging, or Signor Lodging undertakes any obligation to replace or revise any forward-looking statements, whether or not due to recent information, future events, or any other case except as required using the regulation. Disclaimer This press launch shall now not constitute a solicitation of a proxy, consent, or authorization with appreciate to any securities and shall no longer represent a suggestion to promote or the solicitation of a proposal to buy any securities, nor shall be there utilizing any sale of securities in any states or jurisdictions wherein such offer, solicitation or sale could be unlawful previous to registration or qualification underneath the securities laws of such jurisdiction. No presenting of securities will be made besides a prospectus assembly the necessities of segment 10 of the Securities Act.