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WillScot Corporation Announces Exercise and Closing of Underwriters’ Option to Purchase Additional Shares

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BALTIMORE, Aug. 10, 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 the underwriters of its recent offering of 8,000,000 shares of its Class A common stock, par value $0.0001 per share (“Common Stock”), have exercised their option to purchase an additional 1,200,000 shares of Common Stock on the same terms as the initial offering.

WillScot received approximately $19.2 million of gross proceeds from the underwriter’s exercise of their option to purchase additional shares. WillScot expects to use the net offering proceeds to fund, in part, the purchase price of its pending acquisition of Modular Space Corporation (d/b/a “ModSpace”).  If the ModSpace acquisition does not close, WillScot intends to use the net proceeds 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 stock offering were 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 ).

This press release is neither an offer to sell nor a solicitation of an offer to buy any of the shares of Common Stock or any other securities of WillScot, nor shall there be any sale of the shares of Common Stock or any other securities of WillScot in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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.

Contact Information

Investor Inquiries:

Mark Barbalato
investors@willscot.com

Media Inquiries:

Scott Junk
scott.junk@willscot.com

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