Wabash’s 3.375% notes due 2018 convertible for quarter ending June 30

By Marisa Wong

Morgantown, W.Va., April 6 – Wabash National Corp.’s 3.375% convertible senior notes due 2018 are convertible during the current calendar quarter ending June 30, according to an 8-K filing with the Securities and Exchange Commission.

The notes are convertible because the last reported sale price of the company’s common stock for at least 20 trading days during the 30 consecutive trading days ended March 31 was greater than or equal to 130% of the conversion price.

The current conversion rate for the notes is 85.4372 shares per $1,000 principal amount, which is equal to a conversion price of about $11.70 per share.

The company currently intends to settle conversions in cash for both the principal portion and the excess of the conversion value over the principal portion, the filing noted.

Wabash is a Lafayette, Ind.-based diversified industrial manufacturer and a producer of semi-trailers and liquid transportation systems.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.