Wabash has priced an upsized private offering of $130 million aggregate principal amount of 4.00% convertible senior unsecured notes due 2032, up from the previously announced $100 million. The initial purchasers also have an option to buy up to an additional $20 million of the notes. The notes will bear interest at 4.00% per year, payable semi-annually, and mature on August 1, 2032, with an initial conversion rate of 59.7086 shares of common stock per $1,000 principal amount, representing a conversion price of approximately $16.75 per share, a 32.50% premium over the last reported sale price of $12.64 on July 15, 2026. Wabash estimates net proceeds of approximately $122 million, or $141 million if the option is fully exercised, and intends to use the funds for general corporate purposes including repaying amounts under its existing credit agreement. The offering is expected to close on July 20, 2026.
Wabash National CorporationWabash is issuing $130M convertible notes, diluting equity and increasing debt.