Loan & DebtJul 20, 2026, 04:32 PM
Wabash Completes $150M Convertible Senior Notes Offering
AI Summary
Wabash National Corporation completed its previously announced private offering of 4.00% Convertible Senior Notes due 2032, totaling $150 million in aggregate principal amount. The notes, which mature on August 1, 2032, have an initial conversion price of approximately $16.75 per share, representing a 32.50% premium over the last reported stock price. The company expects net proceeds of approximately $141 million, which will be used for general corporate purposes, including the repayment of outstanding amounts under its existing credit agreement.
Key Highlights
- Wabash completed a private offering of $150 million in 4.00% Convertible Senior Notes due 2032.
- The initial offering was $130 million, with an additional $20 million purchased by initial purchasers.
- Notes bear interest at 4.00% per annum, payable semi-annually, maturing on August 1, 2032.
- Initial conversion rate is 59.7086 shares per $1,000 principal, equivalent to $16.75 per share.
- This conversion price represents a 32.50% premium over the July 15, 2026 stock price of $12.64.
- Net proceeds are estimated at $141 million if the option for additional notes is fully exercised.
- Proceeds will be used for general corporate purposes, including repaying existing credit agreement amounts.
Price Impact
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