Loan & DebtJul 16, 2026, 06:31 AM
Wabash Prices Upsized $130M Convertible Senior Notes Due 2032
AI Summary
Wabash announced the pricing of its upsized private offering of $130 million aggregate principal amount of 4.00% convertible senior unsecured notes due 2032. The offering was upsized from the previously announced $100 million. The notes will bear interest at 4.00% annually and mature on August 1, 2032, with an initial conversion price of approximately $16.75 per share, representing a 32.50% premium. Wabash expects net proceeds of approximately $122 million, which will be used for general corporate purposes, including repaying amounts outstanding under its existing credit agreement.
Key Highlights
- Priced upsized private offering of $130 million aggregate principal amount of notes.
- Notes bear interest at 4.00% per year, payable semi-annually.
- Notes mature on August 1, 2032, unless earlier converted, redeemed, or repurchased.
- Initial conversion price is approximately $16.75 per share, a 32.50% premium.
- Initial purchasers have an option to buy an additional $20 million in notes.
- Estimated net proceeds are $122 million, or $141 million if option is fully exercised.
- Proceeds will be used for general corporate purposes, including repaying existing credit agreement amounts.
Price Impact
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