BUZZ-Wabash National steadies after increased $130 mln convertible deal

Wabash National Corporation

Wabash National Corporation

WNC

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** 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


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