that off already. Management had this to say: "Dick Gironmini says the funds will help the company fortify its balance sheet and meet the needs of its existing credit agreement.", i.e. To keep us out of BK Here, read it for yourself: http://www.insideindianabusiness.com/newsitem.asp?id=36974
Just do a Google on Lincolnshire Wabash National Evidently you know about this company, but those thinking of going LONG here are about to get burned like the last time they pumped this and then insiders dumped a ton of shares and walked away, that was last Oct. Investors in this, need to read all they can before thinking of getting into it....it is nothing more than a PUMP AND DUMP !!!
2:1 ratio in a recessionary environment when other trailer companies are going out of business certainly is not the worst balance sheet I have ever seen.
I only bought my initial position recently but this company appears to me to be well-positioned for an economic recovery. Again, the average useful life of a trailer is ten years, and the nationwide fleet average is 8.5 years. I plan to hold my shares for quite some time and look for a dip to add another third of my targeted position.
For the long time, the price will be higher with the recovery. I wonder why the price grew so quickly without news. Maybe they want to issure new shares at higher price? They have already filed new share offering in 12/2009.