WillScot Announces Pricing of $300 Million Senior Secured Notes Offering
BALTIMORE, July 31, 2018 (GLOBE NEWSWIRE) -- WillScot Corporation (Nasdaq:WSC) (“WillScot”), a specialty rental services market leader providing innovative modular space and portable storage solutions across North America, today announced that its indirect subsidiary Mason Finance Sub, Inc. (“Issuer) has priced its offering of $300 million in aggregate principal amount of 6.875% senior secured notes due 223 (the “Notes”) at an issue price of 100% of the aggregate principal amount of the Notes. WillScot intends to use the offering proceeds, together with funds from other sources, to finance its pending acquisition of Modular Space Holdings, Inc. (the “ModSpace Acquisition”) and to pay related fees and expenses.
The Issuer, a wholly-owned subsidiary of Williams Scotsman International, Inc. (“WSII”), was formed to issue notes to help finance the ModSpace Acquisition. If the offering is consummated, the initial purchasers will deposit the gross offering proceeds into an escrow account. Upon consummation of the ModSpace Acquisition and the satisfaction of other conditions, the escrowed proceeds will be released to fund the cash consideration payable by WSII in the ModSpace Acquisition and to pay related fees and expenses. Upon the closing of the ModSpace Acquisition, the Issuer will also merge with and into WSII, with WSII continuing as the surviving corporation, and WSII will assume the obligations of the Issuer under the Notes and the indenture governing the Notes. If the ModSpace Acquisition is not completed by a specified date or certain other events occur, the Notes will be subject to a special mandatory redemption.
The Notes are being offered in a private placement transaction to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States in accordance with Regulation S under the Securities Act. The Notes 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 registration requirements. This press release does not constitute an offer to sell any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer or sale would be unlawful.
WillScot expects the offering to close on August 6, 2018, subject to customary closing conditions.
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,” and variations of these words and similar expressions 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 our control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Although WillScot believes that these forward-looking statements are based on reasonable assumptions, it can give no assurance that any such forward-looking statement will materialize. Important factors that may affect actual results or outcomes include, among others, our ability to timely satisfy or waive the conditions that must be timely satisfied or waived to close the Notes offering and the ModSpace Acquisition, our ability to raise the capital required to finance the ModSpace Acquisition, including the additional debt financing; and such other risks and uncertainties described in the periodic reports we file with the SEC from time to time (including our Form 10-K for the year ending December 31, 2017). Any forward-looking statement speaks only at the date which it is made, and WillScot disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Oasmia ADSs delisted from NASDAQ in the US23.8.2019 10:30:00 CEST | Press release
Oasmia Pharmaceutical AB has previously communicated that the company intends to delist its American Depositary Shares (“ADS”) from the Nasdaq Capital Market (“NASDAQ”) in the US. The delisting is now effective. The main purpose of the delisting is to reduce complexity in financial reporting and administrative costs. Oasmia’s ordinary shares will continue to trade on Nasdaq Stockholm. Holders of ADSs that wish to continue to hold Oasmia shares in the form of ADSs do not have to take any action. Oasmia will maintain an American Depositary Receipt facility to allow investors to hold Oasmia shares in the form of ADSs, and to continue to trade those securities on the over-the-counter market. ADSs will automatically transition to the new ADR program in connection with the delisting and will be traded under a new ticker to be designated. Holders of ADSs may also choose to transition from holding ADSs to holding ordinary shares listed on Nasdaq Stockholm. Read more on Oasmia website. https://
Oasmias depåbevis avnoterade från NASDAQ i USA23.8.2019 10:30:00 CEST | Pressemelding
Oasmia Pharmaceutical AB har tidigare kommunicerat att bolaget avser att avnotera sina amerikanska depåbevis från Nasdaq Capital Market ("NASDAQ") i USA. Avlistningen är nu genomförd. Huvudsyftet med avnoteringen är att minska komplexiteten i finansiell rapportering och administrativa kostnader. Oasmias stamaktier fortsätter att handlas på NASDAQ Stockholm. Innehavare av depåbevis/ADS som vill fortsätta att inneha Oasmia-aktier i form av ADS behöver inte vidta några åtgärder. Oasmia kommer att upprätthålla en amerikansk mottagningsfacilitet för att göra det möjligt för investerare att inneha Oasmia-aktier i form av ADS och fortsätta att handla dessa värdepapper på OTC-marknaden. Dessa ADS:er kommer automatiskt att övergå till det nya ADR-programmet i samband med avlistningen och handlas under en ny ticker som ska utses. De investerare som innehar amerikanska ADS:er/depåbevis har möjlighet att lösa in dessa mot stamaktier i Oasmia som handlas på Nasdaq Stockholm. Mer information finns p
Statkraft acquires German EV charging company E-Wald GmbH.23.8.2019 10:01:00 CEST | Press release
(Teisnach/Düsseldorf/Oslo, 23 August 2019) Statkraft has acquired the entire shareholding of electric vehicle (EV) charging company E-WALD GmbH. The acquisition further strengthens Statkraft’s position in the German and European EV charging market after it became a majority shareholder in eeMobility in Germany last year. The EV charging company E-WALD GmbH, based in Bavaria, Germany has a strong position in fast charging and electric car sharing services. It operates around 300 charging stations and offers EV leasing services for circa 100 fleet cars to corporations and municipalities with approximately 7000 customers in total. The acquisition of E-WALD will strengthen Statkraft’s position in Germany and complements the company’s position in eeMobility, which provides a full service offering of charging solutions for company car fleets. “E-WALD is well placed for growth within fast charging in Germany and we look forward to build the company further and support its ambitious growth str
Statkraft kjøper tysk elbilladeselskap23.8.2019 10:01:00 CEST | Pressemelding
(Teisnach/Düsseldorf/Oslo, 23. august 2019) Statkraft har kjøpt det tyske elbilladeselskapet E-WALD GmbH. Oppkjøpet styrker Statkrafts posisjon i det tyske og europeiske elbillademarkedet etter fjorårets investering i München-baserte eeMobility GmbH. E-WALD GmbH, også med base i Bayern, har en sterk posisjon innen hurtiglading og deling av elbiler. Selskapet driver rundt 300 ladestasjoner og tilbyr elbildeling av omlag hundre biler til selskaper og kommuner med totalt 7000 brukere. Oppkjøpet av E-WALD vil styrke Statkrafts posisjon i Tyskland og komplettere selskapets investering i eeMobility, som utvikler totalløsninger for lading av firmabiler. - E-WALD har et godt utgangspunkt for vekst innen elbillading i Tyskland, og vi ser frem til å bygge selskapet videre og støtte en ambisiøs vekststrategi, sier Bjørn Holsen, direktør for ny forretningsutvikling i Statkraft, Europas største produsent av fornybar energi. - Dette oppkjøpet markerer en viktig milepæl i selskapets utvikling og bekr
Terms for switches in inflation-linked bond SGB IL 310223.8.2019 09:30:00 CEST | Press release
The Swedish National Debt Office offers switch auctions in inflation-linked bond SGB IL 3102 with the aim of decreasing the outstanding volume to around SEK 25 billion before the bond’s time to maturity is shorter than one year. The switch auctions will be held on 20, 23 and 24 September. The offered bonds in the switch auctions are SGB IL 3112, SGB IL 3109 and SGB IL 3113. Switches versus SGB IL 3112 and SGB IL 3113 will be price risk neutral 1 while the switch versus SGB IL 3109 will be cash neutral2. Switch auctions Fri 20 September Risk neutral Mon 23 September Cash neutral Tue 24 September Risk neutral SNDO sells bond 3112 3109 3113 SNDO sells amount (SEK mn) 400 250 250 SNDO buys bond 3102 3102 3102 SNDO buys amount (SEK mn) 3 1 800 200 1 400 Time for yield on buy-back loan 10:45 10:45 10:45 Time for auction cut-off 11:00 11:00 11:00 Time for auction result 11:03 11:03 11:03 The switches were announced in the publication Central Government Borrowing – Forecast and Analysis 2019:2
Villkor för byten i realobligation SGB IL 310223.8.2019 09:30:00 CEST | Pressemelding
Riksgälden erbjuder marknadsvårdande bytesauktioner i realobligation 3102 i syfte att minska den utestående volymen till ungefär 25 miljarder kronor innan den återstående löptiden blir kortare än ett år. Bytesauktionerna äger rum den 20, 23 och 24 september. I bytesauktionerna planerar Riksgälden att sälja SGB IL 3112, SGB IL 3109 och SGB IL 3113. Bytena mot SGB IL 3112 och SGB IL 3113 kommer att göras kursriskneutralt1 medan bytet mot SGB IL 3109 görs likvidneutralt2. Bytesauktioner Fre 20 sept Kursriskneutral Mån 23 sept Likvidneutral Mån 23 sept Kursriskneutral Riksgälden säljer obligation 3112 3109 3113 Riksgälden säljer belopp (mnkr) 400 250 250 Riksgälden köper obligation 3102 3102 3102 Riksgälden köper belopp (mnkr) 3 1 800 200 1 400 Tid för återköpsränta kl. 10.45 kl. 10.45 kl. 10.45 Tid för auktionens stängning kl. 11.00 kl. 11.00 kl. 11.00 Tid för auktionsresultat kl. 11.03 kl. 11.03 kl. 11.03 Bytesauktionerna annonserades i publikationen Statsupplåning – prognos och analys 2