* Price at 4 pct discount to Monday's close
* Says to offer 11.8 mln shrs
* Says stockholder to offer additional 12.5 mln shrs
* Shares down about 4 pct
May 25 Semi-trailer maker Wabash National Corp
(WNC.N) said its 11.8 million share offering was priced at
$6.50 per share, a 4 percent discount to its closing price on
Monday, sending its shares down about 10 percent Tuesday
The company said a selling stockholder, Trailer Investments
LLC, also intends to publicly offer 12.5 million shares at the
same price, and that the company will not receive any of the
proceeds from the sale.
Wabash had previously announced a share offering of 11
The company said it intends to use the proceeds to redeem
all of its outstanding preferred stock and to repay a portion
of its debt.
Wabash had about 31.1 million shares outstanding as of
April 28, according to Thomson Reuters data.
Shares of the company were down 4 percent at $6.52 Tuesday
morning on the New York Stock Exchange. They touched a low of
$6.09 earlier in the session.
(Reporting by Amulya Nagaraj in Bangalore; Editing by