Wabash National steadies after increased $130 mln convertible deal

Wabash National

16/07/2026 14:13

** Trailer maker Wabash National's WNC.N shares down a penny at $12.63 premarket on Thurs after securing more capital than targeted
** Indiana-based WNC announces pricing private offering of $130 mln 4% convertible bonds due Aug 1, 2032
** Initial conversion price of $16.75 represents 32.5% premium to stock's last close
** WNC shares slid nearly 6% on Weds to finish at $12.64 after co late Tues announced $100 mln offering
** Co intends to use net offering proceeds for general purposes, including paying down its credit agreement
** Through Weds, stock up 46% YTD
** 2 analysts covering the stock rate it "buy" with PTs of $20 and $25, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))