Wabash National intends to finance acquisition of Supreme Industries with proceeds from the offering
LAFAYETTE, Ind.—Wabash National Corporation (NYSE:WNC) today announced that it is launching a private offering of $325 million in aggregate principal amount of senior unsecured notes due 2025 (the “Notes”), subject to market and other conditions. The Notes will be guaranteed on a senior unsecured basis by certain of Wabash National’s direct and indirect existing and future domestic subsidiaries.
Wabash National intends to use the net proceeds of the Notes offering, together with available cash and cash equivalents, to fund the purchase price for the previously announced pending acquisition of Supreme Industries, Inc. and to pay related fees and expenses. The offering is not conditioned upon the completion of the acquisition of Supreme. However, the Notes will be subject to a special mandatory redemption if the Supreme acquisition is not consummated.
The Notes and related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. The Notes and related guarantees may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes and related guarantees will be offered only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act.