secwatch.observer — SEC 8-K summary
======================================

Issuer:     Target Hospitality Corp. (TH)
CIK:        0001712189
Form:       8-K
Filed at:   2026-04-01T23:59:59+00:00
Accession:  0001104659-26-038173
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Target Hospitality wins $550M+ data center hub contract with top-5 hyperscaler; raises 2026 outlook
--------------------------------------------------------------------------------

- Multi-year agreement with top-five hyperscaler for a data center campus in North Texas; over $550M committed minimum revenue through Q1 2031.
- Potential variable revenue of ~$20M-$40M annually depending on occupancy; two 2-year extension options through Jan 2035.
- Construction begins immediately; first occupancy Q3 2026, full completion Q2 2027. Net capital investment ~$115M-$125M, ~80% in 2026.
- 2026 guidance raised: revenue $360M-$370M, Adjusted EBITDA $70M-$80M, total CapEx $220M-$240M excluding acquisitions.
- Target projects annualized revenue >$500M and Adjusted EBITDA >$160M by mid-2027, assuming midpoint of variable revenue.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1712189/000110465926038173/0001104659-26-038173-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1712189/000110465926038173/tm2610742d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-038173

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer