Arrow Bidco Announces Completion of $340 Million Senior Secured Notes Offering

Arrow Bidco, LLC, a Delaware limited liability company (the “Issuer”), announced today that it completed its offering of $340 million in aggregate principal amount of its 9.50% senior secured notes due 2024 (the “Notes”). The Issuer intends to use the proceeds of the offering, together with funds from other sources, to: (i) fund Target Logistics Management, LLC’s (“Target Lodging”) and RL Signor Holdings LLC’s (“Signor Lodging”) planned business combination (the “Business Combination”) with Platinum Eagle Acquisition Corp., a Nasdaq-listed special purpose acquisition company (“Platinum Eagle”), (ii) repay in full certain existing third-party and intercompany indebtedness and (iii) pay fees and expenses incurred in connection with the Business Combination. After giving effect to the Business Combination, the Issuer will be the direct parent of Target Lodging and Signor Lodging and an indirect, wholly-owned subsidiary of Platinum Eagle (which will be renamed “Target Hospitality” in connection with the Business Combination).

The Notes were 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 to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes have not been 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.

About the Issuer

The Issuer is the direct parent of Signor Lodging and a direct subsidiary of Arrow Parent Corp. (“Arrow Parent”). In connection with the Business Combination, Arrow Parent will merge with and into Topaz Holdings LLC (“Topaz Holdings”), a wholly-owned subsidiary of Platinum Eagle and, as a result, Arrow Bidco will become a direct wholly-owned subsidiary of Topaz Holdings.

About Target Lodging

Founded in 1978, Target Lodging is the largest vertically integrated specialty rental and hospitality services company in the United States. The company is principally focused on building, owning and operating housing communities across several end markets, including oil and gas, energy infrastructure and government. Target Lodging provides cost-effective and customized specialty rental accommodations, culinary services, and hospitality solutions, including site design, construction, operations, security, housekeeping, catering, concierge services, and health and recreation facilities as part of its integrated housing and hospitality communities. Target Lodging was named by Inc. magazine in 2012 and 2013 as one of “America’s Fastest Growing Private Companies.” Target Lodging has been an Algeco company since 2013.