Wabash announces pricing of common stock offering
Oct 29, 2004 4:57 PM
Wabash National Corporation announced today that it has priced its offering of three million shares of common stock at a public offering price of $23.25.
Wabash expects to receive net proceeds of approximately $65.8 million from the sale of three million shares of common stock. If the underwrites elect to exercise an option to purchase an additional 450,000 shares of common stock to cover over-allotments, Wabash will receive an additional $9.9 million in net proceeds.
Wabash plans to use all of the net proceeds to pay down its secured bank indebtedness. Merrill Lynch & Co., Bear, Stearns & Co. Inc. and BB&T Capital Markets are the managing underwriters for this offering.
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