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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Current Report Pursuant to Section 13 or
15(d)<BR>
of the Securities Exchange Act of 1934</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
April 13, 2012</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WABASH NATIONAL CORPORATION</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

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    <TD STYLE="vertical-align: top; text-align: center; width: 30%; border-bottom: Black 1pt solid">Delaware</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 30%; border-bottom: Black 1pt solid">1-10883</TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 30%; border-bottom: Black 1pt solid">52-1375208</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">(State or other jurisdiction of<BR> incorporation or organization)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(Commission File<BR> Number)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(I.R.S. Employer<BR> Identification No.)</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center; border-bottom: Black 1pt solid">1000 Sagamore Parkway South<BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">Lafayette, Indiana</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center; border-bottom: Black 1pt solid">47905</TD></TR>
<TR>
    <TD COLSPAN="3" STYLE="vertical-align: top; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: (765) 771-5310</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Not applicable</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former name or former address, if changed
since last report)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">o</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Section 2</B></TD><TD STYLE="text-align: justify"><B>Financial Information</B></TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 2.02</B></TD><TD STYLE="text-align: justify"><B>Results of Operations and Financial Condition.</B></TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">During Wabash
National Corporation&rsquo;s (the &ldquo;Company,&rdquo; &ldquo;Wabash&rdquo; or &ldquo;we&rdquo;) fourth quarter 2011 and
full year 2011 results conference call on February 7, 2012, we provided guidance on first quarter and full year expectations
for 2012. As an update to that guidance, quote and order activity throughout the first quarter remained healthy and in line
with seasonal demand trends. As a result, backlog as of March 31, 2012 is estimated to have remained relatively consistent
with the December 31, 2011 level of $587 million at approximately $580 million. Previous guidance provided for the first
quarter estimated shipments at approximately 11,000 new trailers, whereas actual shipments for the quarter were approximately
10,300. While slightly below our original estimate, new trailer deliveries improved monthly throughout the quarter as
customers adjusted to increasing build rates, and year-over-year consolidated revenues for the first quarter are estimated to
have been higher by approximately $54 to $56 million, or 24 to 25 percent. In addition, as production for the first quarter
was approximately 11,000 trailers, we anticipate the shipment shortfall to be delivered in the second quarter. Our full
year guidance for new trailer shipments of 50,000 to 56,000 remains unchanged.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Operationally during the quarter, Wabash
continued to experience workforce productivity improvements, as well as an improvement in the mix of backlog built and shipped
in the quarter, which reflected higher pricing levels. As a result of these factors, gross margins are expected to improve sequentially
resulting in first quarter earnings in the range of $0.09 to $0.10 per diluted share.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information above is preliminary and
is subject to change as final results are completed. As a result, actual results could be materially different from these estimates.
Wabash is scheduled to release its first quarter 2012 results on Tuesday, May 1, 2012, after the close of the financial markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Section 8</B></TD><TD STYLE="text-align: justify"><B>Other Events</B></TD>
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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 8.01</B></TD><TD STYLE="text-align: justify"><B>Other Events.</B></TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 26, 2012, Wabash entered into a
Purchase and Sale Agreement with Walker Group Holdings LLC (&ldquo;Walker&rdquo;) and Walker Group Resources LLC, the parent of
Walker, pursuant to which we will purchase all of the equity interests of Walker for total consideration of $360 million in cash,
subject to purchase price adjustments related to the acquired working capital (the &ldquo;Acquisition&rdquo;). Although there can
be no assurance, the Acquisition is expected to be consummated in the second quarter of 2012. Consummation of the Acquisition is
subject to various important conditions, including, among others, the expiration or termination of the applicable waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the &ldquo;HSR Act&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Walker is a leading manufacturer of liquid-transportation
systems and engineered products based in New Lisbon, Wisconsin, with over 1,200 employees in four countries. Walker has a strong
existing management team that shares Wabash&rsquo;s focus on manufacturing based on innovation, quality and continuous improvement.
The acquisition of Walker, which will become part of our Diversified Products segment, is part of our commitment to grow and diversify
our business outside of our core trailer products. <FONT STYLE="color: black">Our Diversified Products segment has been focused
historically on leveraging our intellectual technology and core manufacturing expertise into new applications and market sectors
in order to deliver greater value to our customers and shareholders. It currently includes a focus on utilizing our DuraPlate<SUP>&reg;</SUP>
composite panel technology in areas outside van trailer manufacturing, leveraging our core manufacturing technologies to include
manufacture of mobile water storage containers (&ldquo;frac tanks&rdquo;) used in the oil and gas industry to pump high-pressure
water into underground wells and manufacturing of laminated hard wood oak products for the van trailer industry. We expect to continue
to focus on our Diversified Products segment through the acquisition of Walker, as well as initiatives to enhance our business
model, strengthen our revenues and become a stronger company that can deliver greater value to our shareholders. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe that Walker is a good strategic
fit for Wabash, meeting our key criteria of industry leadership, diversification and financial profile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Industry Leadership</I>. Walker has leading
market positions and strong brand recognition across many of the markets it serves in both its liquid tank transportation products
and engineered products, which is complementary to Wabash&rsquo;s historical leadership positions in dry van, refrigerated and
platform trailer manufacturing.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Diversification</I>. The acquisition of
Walker will provide Wabash with diversification in products, end-markets, customers and geographies while maintaining a focus on
core manufacturing capabilities that the companies share. Walker itself has demonstrated success in diversifying its own business,
growing its engineered products division to be a significant contributor to its revenues and income. Additionally, we believe that
the markets served by Walker tend to be less cyclical than the van and platform trailer markets historically served by Wabash.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Financial Profile</I>. Walker has demonstrated
strong financial performance. In 2011, Walker had gross margin of 21% on revenues of $344 million, net income of $28 million and
Adjusted EBITDA of $53 million (below is a reconciliation of Adjusted EBITDA, a non-Generally Accepted Accounting Principle (&ldquo;GAAP&rdquo;)
measure, to net income, the most comparable GAAP measure.) Walker&rsquo;s backlog at December 31, 2011 was $164 million. Although
there can be no assurance, we believe that we will be able to realize cost, operational and purchasing power synergies following
the Acquisition, and that the addition of Walker will be immediately accretive to our income from operations.</FONT></TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">Walker currently has ten principal
brands divided among transportation and engineered products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transportation Products accounted for approximately
76% of Walker&rsquo;s 2011 revenues from seven brands, representing leading positions in liquid transportation systems, including
stainless steel liquid transportation systems and stainless steel liquid-tank trailers for the North American chemical, dairy,
food and beverage, petroleum, aviation, energy services and waste hauling markets.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD><I>Walker Transport</I> produces liquid transport tank trailers for the dairy, food and beverage industries.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD><I>Garsite</I> produces aircraft refuelers and hydrant dispensers for in-to-plane fueling companies, oil companies, airlines,
freight distribution companies and fuel marketers around the globe. Walker&rsquo;s management estimates that Garsite refuelers
are in service at nearly every major U.S. airport and in over 80 countries on 6 continents.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD><I>Walker Defense</I> <I>Group</I> produces military-grade refueling and water tankers for the applications and environments
required by the military.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD><I>Progress Tank</I> produces truck-mounted tanks for fuel delivery, as well as vacuum tankers. Progress Tank provides services
and support through a highly-qualified and trained distribution network and relies on an international network of qualified and
factory authorized distributors to provide local Progress in-stock product sales, service and support of new tanks, new cab and
chassis, and new ready-to-deliver tank trucks. Walker&rsquo;s management estimates that Progress Tank is the worldwide leader in
the manufacture and supply of truck mounted tanks, meeting the needs of the modern liquid handling transport industry.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: left"><I>Brenner Tank</I> offers a full line of liquid transport solutions in all major categories, including
food, chemical, environmental and petroleum. Brenner Tank operates four parts and service centers across the U.S., as well as a
full service online TankerParts Store. Based on published industry statistics, Walker&rsquo;s management believes that Brenner
Tank is the largest manufacturer of stainless steel transportation tanks in North America. Brenner Tank also manufactures transportation
tanks in aluminum. Its products are sold throughout the U.S. and Canada, as well as in many countries worldwide.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: left"><I>Tri State Tank</I>, or TST, is estimated by Walker&rsquo;s management to be a leader in the assembly
of propane trucks, refined fuel trucks, vacuum trucks and crane trucks. TST offers &ldquo;turn key&rdquo; production, and also
remounts existing tanks, repairs equipment and offers replacement part sales. TST sales consist of new tank/equipment and chassis
as well as the refurbishing of existing customer units.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: left"><I>Bulk International</I> is focused on delivering competitively priced stainless steel DOT-407 tankers.
Bulk International supplies tank fleets and other customers from a plant near San Jose Iturbide in the central Mexican state of
Guanajuato.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Engineered Products accounted for approximately
24% of Walker&rsquo;s 2011 revenues from three brands, representing what Walker&rsquo;s management estimates to be leading positions
in isolators, stationary silos and downflow booths around the world for the chemical, dairy, food and beverage, pharmaceutical
and nuclear markets.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: left"><I>Walker Engineered Products</I> produces a broad range of products for storage, mixing and blending,
including process vessels, as well as round horizontal and vertical storage silo tanks. For process vessels, it offers a wide range
of agitation technologies including turbine, sweeper, scraped surface and counter rotating, as well as numerous heat transfer solutions
including dimple, channel and half pipe for heating and cooling of vessels.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: left"><I>Walker Barrier Systems</I> develops containment and isolation systems for the pharmaceutical, chemical,
and nuclear industries, including custom designed turn key systems and spare components for full service and maintenance contracts.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">o</TD><TD STYLE="text-align: left"><I>Extract Technologies</I>, headquartered in Huddersfield, United Kingdom,<I> </I>is a leading supplier
of containment systems for the pharmaceutical, chemical and biotech markets. Its products include downflow containment booths for
operator protection from respirable dusts, dispensing and sampling facilities as custom solutions designed and supplied from one
source, rigid and flexible isolators for containment of potent compounds and aseptic processing, and a full range of pack-off systems
to safely offload powdered product into drums or other containers for transport and storage.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Through these products and brands, Walker
serves a variety of end markets and large, well-known customers. Key end markets for its transportation products include the chemical,
dairy, food and beverage, petroleum, aviation, energy services, waste hauling and defense industries. Key end markets for its
engineered products include the chemical, dairy, food and beverage, pharmaceutical and nuclear industries.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Walker has manufacturing facilities for
its Transportation Products in New Lisbon, Wisconsin, Fond du Lac, Wisconsin, Kansas City, Missouri, and Queretaro, Mexico, with
parts and service centers in Houston, Texas, Baton Rouge, Louisiana, Findlay, Ohio, Chicago, Illinois, Mauston, Wisconsin, West
Memphis, Arkansas and Ashland, Kentucky. Manufacturing facilities for Engineered Products are located in New Lisbon, Wisconsin,
Elroy, Wisconsin and Huddersfield, United Kingdom, with parts and service centers in Tavares, Florida, Dallas, Texas and Philadelphia,
Pennsylvania.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe that the markets served by Walker
tend to be less cyclical than the van and platform trailer markets historically served by Wabash. Walker&rsquo;s diversified product
base, end-markets and customers may also present opportunities to grow sales of legacy Wabash products, as well as to provide opportunities
to sell Walker products to existing Wabash customers. Similarly, we will evaluate how we can use Walker&rsquo;s international presence
to continue efforts to grow opportunities for Wabash&rsquo;s products internationally.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Walker has demonstrated strong financial
results, and although there can be no assurance, we believe that the Acquisition will be immediately accretive to Wabash&rsquo;s
income from operations. Walker&rsquo;s profitability has increased over recent years, with Walker&rsquo;s Adjusted EBITDA growing
from $30 million in 2009 to $53 million in 2011 and net income growth from $7 million in 2009 to $28 million in 2011. Following
the Acquisition, we expect to pursue synergies from supply chain optimization, commercialization and distribution of new and existing
products, back office and administrative consolidation, and further implementation of manufacturing best practices. The Acquisition
is subject to various risks and uncertainties, and no assurance can be given that the Acquisition will be completed or that, if
completed, it will be successful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Reconciliation of Adjusted EBITDA</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following is a reconciliation of Walker&rsquo;s
Adjusted EBITDA to its net income. We believe that Walker&rsquo;s Adjusted EBITDA is a key indicator of its financial performance
and is a measure we used in considering the Acquisition. <FONT STYLE="color: black; background-color: white">We believe that using
this adjusted measure facilitates comparisons and analysis of Walker and other companies, including Wabash, particularly because
this measure excludes differences related to capital structures, tax positions and other items that are, in part, indicative of
the fact that Walker is a private company and are not indicative of the principal operating activities of Walker. Adjusted EBITDA
is not a measurement of financial performance under GAAP and should not be considered as an alternative to net income as an indicator
of operating performance or any other measure of performance derived in accordance with GAAP.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Twelve Months Ended December 31,</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2009</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 58%; font-size: 10pt; text-align: left; padding-left: 5.4pt">Net income</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">28,160</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">10,781</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 2%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">7,011</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 5.4pt">Interest expense, net</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">10,245</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">10,275</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">11,208</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 5.4pt">Income tax expense</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">139</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">201</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">123</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 5.4pt">Depreciation and amortization</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,946</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">6,794</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">7,073</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 5.4pt">Excess (Deficit) bonus adjustment</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,872</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(948</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(841</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Other adjustments <SUP>(1)</SUP></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,669</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">1,495</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,732</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Adjusted EBITDA</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">53,031</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">28,598</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">30,306</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0.25in"></P>

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<TD STYLE="width: 0%"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>2011 includes charges related to an asset impairment and production optimization efforts; 2010 includes charges related to
restructuring; and 2009 includes charges related to prior acquisitions, an asset impairment, restructuring and the relocation of
certain operations.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At December 31, 2011, Walker had a backlog
of $164 million, which represents an increase of 106% over backlog of $79 million at December 31, 2010. Walker&rsquo;s backlog
is calculated in a manner consistent with the approach historically used by Wabash which is based on orders that have been confirmed
by customers in writing, have defined delivery timeframes and can be produced during the next 18 months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Although there can be no assurance, the
Acquisition is expected to be consummated in the second quarter of 2012. Consummation of the Acquisition is subject to various
important conditions, including, among others, the expiration or termination of the applicable waiting period under the HSR Act.
The Purchase and Sale Agreement also contains specified termination rights for the parties, including, among others, if the Acquisition
fails to close on or before June 25, 2012. The Purchase and Sale Agreement further provides that we are required to pay a termination
fee of $20 million in the event that the Purchase and Sale Agreement is terminated due to (i) a breach by us of our representations,
warranties or covenants or (ii) a failure by us to close if the conditions to closing had otherwise been satisfied and the seller
was ready, willing and able to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For more information regarding the Acquisition,
please see Item 1.01 of our Current Report on Form 8-K filed with the SEC on March 27, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attached as Exhibit 99.1 and incorporated
by reference in this Current Report are the audited consolidated balance sheets of Walker as of December 31, 2011 and 2010, and
the related audited consolidated statements of income, member&rsquo;s equity, and cash flows for each of the three years in the
period ended December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attached as Exhibit 99.2 and incorporated
by reference in this Current Report are the unaudited pro forma consolidated balance sheet of Wabash National Corporation as of
December 31, 2011, and the related unaudited pro forma consolidated statement of operations for the year ended December 31, 2011.
The pro forma consolidated statement of operations gives effect to the following (collectively, the &ldquo;Transactions&rdquo;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The consummation of the Acquisition, and the financing arrangements currently contemplated to fund the Acquisition, which are
as follows:</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>the issuance of a $300 million senior secured first lien term note under a new term loan facility;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>the issuance of $150 million in aggregate principal amount of convertible senior notes. We expect the notes would be convertible
into cash, shares of our common stock or a combination of cash and shares, at our election. W<FONT STYLE="color: black">e currently
intend to settle any conversion of notes through &ldquo;net-share settlement,&rdquo; which we believe will help reduce the potential
equity dilution from issuance of convertible notes. Under &ldquo;net-share settlement,&rdquo; when notes are converted, we pay
cash up to the principal amount of the notes being converted and deliver shares only for the conversion value in excess of the
principal amount, if any; and </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD>the repayment of $60.6 million of borrowings under our existing senior secured revolving credit facility from surplus funds,
and the amendment and restatement of that facility into a $150 million senior secured revolving credit facility.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>The payment of estimated underwriting commissions, financing origination fees and other Transaction related expenses in connection
with the foregoing.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The unaudited pro forma consolidated balance sheet assumes that
the Transactions occurred as of December 31, 2011, and the unaudited pro forma consolidated statement of operations for the year
ended December 31, 2011 assumes that the Transactions occurred on January 1, 2011. Adjustments related to the Transactions are
described in the accompanying notes to the unaudited pro forma consolidated financial statements. The pro forma financial statements
were prepared for informational purposes and are not necessarily indicative of what our financial positions or results of operations
would have been had the Transactions occurred as reflected in the pro forma financial statements. These adjustments are based on
currently available preliminary information and certain estimates and assumptions and, therefore, the actual effects of the Transactions
may differ from the effects reflected in these unaudited pro forma consolidated financial statements. However, management believes
that the assumptions provide a reasonable basis for presenting the significant effects of the Transactions as contemplated and
that the pro forma adjustments give appropriate effect to those assumptions and are properly applied in the unaudited pro forma
consolidated financial statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Safe Harbor Statement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Form 8-K contains certain forward-looking statements, as
defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey our current expectations or
forecasts of future events. All statements contained in this Form 8-K other than statements of historical fact are forward-looking
statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially
from those implied by the forward-looking statements. Readers should review and consider the various disclosures made by the Company
in its filings with the Securities and Exchange Commission, including the risks and uncertainties described therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Section 9</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits</B></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 9.01</B></TD><TD STYLE="text-align: justify"><B>Financial Statements and Exhibits</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">Exhibit No.</TD><TD STYLE="text-align: justify">Exhibit</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">23.1</TD><TD STYLE="text-align: left">Consent of BDO USA, LLP</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">99.1</TD><TD STYLE="text-align: left">Audited balance sheets of Walker Group Holdings LLC as of
December 31, 2011 and 2010, and the related audited consolidated statements of income, members&rsquo; equity, and cash flows for
each of the three years in the period ended December 31, 2011</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">99.2</TD><TD STYLE="text-align: left">Unaudited pro forma consolidated balance sheet of Wabash
National Corporation as of December 31, 2011, and the related unaudited pro forma consolidated statement of operations for the
year ended December 31, 2011</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2"><B>Wabash National Corporation</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">Date: April 13, 2012</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%">/s/ Mark J. Weber</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Mark J. Weber<BR>Senior Vice President and<BR>
Chief Financial Officer</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDEX OF EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">Exhibit No.</TD><TD STYLE="text-align: justify">Exhibit</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">23.1</TD><TD STYLE="text-align: left">Consent of BDO USA, LLP</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">99.1</TD><TD STYLE="text-align: left">Audited balance sheets of Walker Group Holdings LLC as of
December 31, 2011 and 2010, and the related audited consolidated statements of income, members&rsquo; equity, and cash flows for
each of the three years in the period ended December 31, 2011</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left">99.2</TD><TD STYLE="text-align: left">Unaudited pro forma consolidated balance sheet of Wabash
National Corporation as of December 31, 2011, and the related unaudited pro forma consolidated statement of operations for the
year ended December 31, 2011</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or
15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 13, 2012
WABASH NATIONAL CORPORATION
(Exact name of registrant as specified in
its charter)
Delaware
1-10883
52-1375208
(State or other jurisdiction of
incorporation or organization)
(Commission File
Number)
(I.R.S. Employer
Identification No.)
1000 Sagamore Parkway South
Lafayette, Indiana
47905
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including
area code: (765) 771-5310
Not applicable
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
1
Section 2
Financial Information
Item 2.02
Results of Operations and Financial Condition.
During Wabash
National Corporation's (the "Company," "Wabash" or "we") fourth quarter 2011 and
full year 2011 results conference call on February 7, 2012, we provided guidance on first quarter and full year expectations
for 2012. As an update to that guidance, quote and order activity throughout the first quarter remained healthy and in line
with seasonal demand trends. As a result, backlog as of March 31, 2012 is estimated to have remained relatively consistent
with the December 31, 2011 level of $587 million at approximately $580 million. Previous guidance provided for the first
quarter estimated shipments at approximately 11,000 new trailers, whereas actual shipments for the quarter were approximately
10,300. While slightly below our original estimate, new trailer deliveries improved monthly throughout the quarter as
customers adjusted to increasing build rates, and year-over-year consolidated revenues for the first quarter are estimated to
have been higher by approximately $54 to $56 million, or 24 to 25 percent. In addition, as production for the first quarter
was approximately 11,000 trailers, we anticipate the shipment shortfall to be delivered in the second quarter. Our full
year guidance for new trailer shipments of 50,000 to 56,000 remains unchanged.
Operationally during the quarter, Wabash
continued to experience workforce productivity improvements, as well as an improvement in the mix of backlog built and shipped
in the quarter, which reflected higher pricing levels. As a result of these factors, gross margins are expected to improve sequentially
resulting in first quarter earnings in the range of $0.09 to $0.10 per diluted share.
The information above is preliminary and
is subject to change as final results are completed. As a result, actual results could be materially different from these estimates.
Wabash is scheduled to release its first quarter 2012 results on Tuesday, May 1, 2012, after the close of the financial markets.
Section 8
Other Events
Item 8.01
Other Events.
On March 26, 2012, Wabash entered into a
Purchase and Sale Agreement with Walker Group Holdings LLC ("Walker") and Walker Group Resources LLC, the parent of
Walker, pursuant to which we will purchase all of the equity interests of Walker for total consideration of $360 million in cash,
subject to purchase price adjustments related to the acquired working capital (the "Acquisition"). Although there can
be no assurance, the Acquisition is expected to be consummated in the second quarter of 2012. Consummation of the Acquisition is
subject to various important conditions, including, among others, the expiration or termination of the applicable waiting period
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act").
Walker is a leading manufacturer of liquid-transportation
systems and engineered products based in New Lisbon, Wisconsin, with over 1,200 employees in four countries. Walker has a strong
existing management team that shares Wabash's focus on manufacturing based on innovation, quality and continuous improvement.
The acquisition of Walker, which will become part of our Diversified Products segment, is part of our commitment to grow and diversify
our business outside of our core trailer products.
Our Diversified Products segment has been focused
historically on leveraging our intellectual technology and core manufacturing expertise into new applications and market sectors
in order to deliver greater value to our customers and shareholders. It currently includes a focus on utilizing our DuraPlate
®
composite panel technology in areas outside van trailer manufacturing, leveraging our core manufacturing technologies to include
manufacture of mobile water storage containers ("frac tanks") used in the oil and gas industry to pump high-pressure
water into underground wells and manufacturing of laminated hard wood oak products for the van trailer industry. We expect to continue
to focus on our Diversified Products segment through the acquisition of Walker, as well as initiatives to enhance our business
model, strengthen our revenues and become a stronger company that can deliver greater value to our shareholders.
2
We believe that Walker is a good strategic
fit for Wabash, meeting our key criteria of industry leadership, diversification and financial profile.
·
Industry Leadership
. Walker has leading
market positions and strong brand recognition across many of the markets it serves in both its liquid tank transportation products
and engineered products, which is complementary to Wabash's historical leadership positions in dry van, refrigerated and
platform trailer manufacturing.
·
Diversification
. The acquisition of
Walker will provide Wabash with diversification in products, end-markets, customers and geographies while maintaining a focus on
core manufacturing capabilities that the companies share. Walker itself has demonstrated success in diversifying its own business,
growing its engineered products division to be a significant contributor to its revenues and income. Additionally, we believe that
the markets served by Walker tend to be less cyclical than the van and platform trailer markets historically served by Wabash.
·
Financial Profile
. Walker has demonstrated
strong financial performance. In 2011, Walker had gross margin of 21% on revenues of $344 million, net income of $28 million and
Adjusted EBITDA of $53 million (below is a reconciliation of Adjusted EBITDA, a non-Generally Accepted Accounting Principle ("GAAP")
measure, to net income, the most comparable GAAP measure.) Walker's backlog at December 31, 2011 was $164 million. Although
there can be no assurance, we believe that we will be able to realize cost, operational and purchasing power synergies following
the Acquisition, and that the addition of Walker will be immediately accretive to our income from operations.
Walker currently has ten principal
brands divided among transportation and engineered products.
·
Transportation Products accounted for approximately
76% of Walker's 2011 revenues from seven brands, representing leading positions in liquid transportation systems, including
stainless steel liquid transportation systems and stainless steel liquid-tank trailers for the North American chemical, dairy,
food and beverage, petroleum, aviation, energy services and waste hauling markets.
o
Walker Transport
produces liquid transport tank trailers for the dairy, food and beverage industries.
o
Garsite
produces aircraft refuelers and hydrant dispensers for in-to-plane fueling companies, oil companies, airlines,
freight distribution companies and fuel marketers around the globe. Walker's management estimates that Garsite refuelers
are in service at nearly every major U.S. airport and in over 80 countries on 6 continents.
o
Walker Defense
Group
produces military-grade refueling and water tankers for the applications and environments
required by the military.
o
Progress Tank
produces truck-mounted tanks for fuel delivery, as well as vacuum tankers. Progress Tank provides services
and support through a highly-qualified and trained distribution network and relies on an international network of qualified and
factory authorized distributors to provide local Progress in-stock product sales, service and support of new tanks, new cab and
chassis, and new ready-to-deliver tank trucks. Walker's management estimates that Progress Tank is the worldwide leader in
the manufacture and supply of truck mounted tanks, meeting the needs of the modern liquid handling transport industry.
o
Brenner Tank
offers a full line of liquid transport solutions in all major categories, including
food, chemical, environmental and petroleum. Brenner Tank operates four parts and service centers across the U.S., as well as a
full service online TankerParts Store. Based on published industry statistics, Walker's management believes that Brenner
Tank is the largest manufacturer of stainless steel transportation tanks in North America. Brenner Tank also manufactures transportation
tanks in aluminum. Its products are sold throughout the U.S. and Canada, as well as in many countries worldwide.
3
o
Tri State Tank
, or TST, is estimated by Walker's management to be a leader in the assembly
of propane trucks, refined fuel trucks, vacuum trucks and crane trucks. TST offers "turn key" production, and also
remounts existing tanks, repairs equipment and offers replacement part sales. TST sales consist of new tank/equipment and chassis
as well as the refurbishing of existing customer units.
o
Bulk International
is focused on delivering competitively priced stainless steel DOT-407 tankers.
Bulk International supplies tank fleets and other customers from a plant near San Jose Iturbide in the central Mexican state of
Guanajuato.
·
Engineered Products accounted for approximately
24% of Walker's 2011 revenues from three brands, representing what Walker's management estimates to be leading positions
in isolators, stationary silos and downflow booths around the world for the chemical, dairy, food and beverage, pharmaceutical
and nuclear markets.
o
Walker Engineered Products
produces a broad range of products for storage, mixing and blending,
including process vessels, as well as round horizontal and vertical storage silo tanks. For process vessels, it offers a wide range
of agitation technologies including turbine, sweeper, scraped surface and counter rotating, as well as numerous heat transfer solutions
including dimple, channel and half pipe for heating and cooling of vessels.
o
Walker Barrier Systems
develops containment and isolation systems for the pharmaceutical, chemical,
and nuclear industries, including custom designed turn key systems and spare components for full service and maintenance contracts.
o
Extract Technologies
, headquartered in Huddersfield, United Kingdom,
is a leading supplier
of containment systems for the pharmaceutical, chemical and biotech markets. Its products include downflow containment booths for
operator protection from respirable dusts, dispensing and sampling facilities as custom solutions designed and supplied from one
source, rigid and flexible isolators for containment of potent compounds and aseptic processing, and a full range of pack-off systems
to safely offload powdered product into drums or other containers for transport and storage.
Through these products and brands, Walker
serves a variety of end markets and large, well-known customers. Key end markets for its transportation products include the chemical,
dairy, food and beverage, petroleum, aviation, energy services, waste hauling and defense industries. Key end markets for its
engineered products include the chemical, dairy, food and beverage, pharmaceutical and nuclear industries.
Walker has manufacturing facilities for
its Transportation Products in New Lisbon, Wisconsin, Fond du Lac, Wisconsin, Kansas City, Missouri, and Queretaro, Mexico, with
parts and service centers in Houston, Texas, Baton Rouge, Louisiana, Findlay, Ohio, Chicago, Illinois, Mauston, Wisconsin, West
Memphis, Arkansas and Ashland, Kentucky. Manufacturing facilities for Engineered Products are located in New Lisbon, Wisconsin,
Elroy, Wisconsin and Huddersfield, United Kingdom, with parts and service centers in Tavares, Florida, Dallas, Texas and Philadelphia,
Pennsylvania.
We believe that the markets served by Walker
tend to be less cyclical than the van and platform trailer markets historically served by Wabash. Walker's diversified product
base, end-markets and customers may also present opportunities to grow sales of legacy Wabash products, as well as to provide opportunities
to sell Walker products to existing Wabash customers. Similarly, we will evaluate how we can use Walker's international presence
to continue efforts to grow opportunities for Wabash's products internationally.
4
Walker has demonstrated strong financial
results, and although there can be no assurance, we believe that the Acquisition will be immediately accretive to Wabash's
income from operations. Walker's profitability has increased over recent years, with Walker's Adjusted EBITDA growing
from $30 million in 2009 to $53 million in 2011 and net income growth from $7 million in 2009 to $28 million in 2011. Following
the Acquisition, we expect to pursue synergies from supply chain optimization, commercialization and distribution of new and existing
products, back office and administrative consolidation, and further implementation of manufacturing best practices. The Acquisition
is subject to various risks and uncertainties, and no assurance can be given that the Acquisition will be completed or that, if
completed, it will be successful.
Reconciliation of Adjusted EBITDA
The following is a reconciliation of Walker's
Adjusted EBITDA to its net income. We believe that Walker's Adjusted EBITDA is a key indicator of its financial performance
and is a measure we used in considering the Acquisition.
We believe that using
this adjusted measure facilitates comparisons and analysis of Walker and other companies, including Wabash, particularly because
this measure excludes differences related to capital structures, tax positions and other items that are, in part, indicative of
the fact that Walker is a private company and are not indicative of the principal operating activities of Walker. Adjusted EBITDA
is not a measurement of financial performance under GAAP and should not be considered as an alternative to net income as an indicator
of operating performance or any other measure of performance derived in accordance with GAAP.
Twelve Months Ended December 31,
2011
2010
2009
Net income
$
28,160
$
10,781
$
7,011
Interest expense, net
10,245
10,275
11,208
Income tax expense
139
201
123
Depreciation and amortization
6,946
6,794
7,073
Excess (Deficit) bonus adjustment
5,872
(948
)
(841
)
Other adjustments
(1)
1,669
1,495
5,732
Adjusted EBITDA
$
53,031
$
28,598
$
30,306
(1)
2011 includes charges related to an asset impairment and production optimization efforts; 2010 includes charges related to
restructuring; and 2009 includes charges related to prior acquisitions, an asset impairment, restructuring and the relocation of
certain operations.
At December 31, 2011, Walker had a backlog
of $164 million, which represents an increase of 106% over backlog of $79 million at December 31, 2010. Walker's backlog
is calculated in a manner consistent with the approach historically used by Wabash which is based on orders that have been confirmed
by customers in writing, have defined delivery timeframes and can be produced during the next 18 months.
Although there can be no assurance, the
Acquisition is expected to be consummated in the second quarter of 2012. Consummation of the Acquisition is subject to various
important conditions, including, among others, the expiration or termination of the applicable waiting period under the HSR Act.
The Purchase and Sale Agreement also contains specified termination rights for the parties, including, among others, if the Acquisition
fails to close on or before June 25, 2012. The Purchase and Sale Agreement further provides that we are required to pay a termination
fee of $20 million in the event that the Purchase and Sale Agreement is terminated due to (i) a breach by us of our representations,
warranties or covenants or (ii) a failure by us to close if the conditions to closing had otherwise been satisfied and the seller
was ready, willing and able to close.
5
For more information regarding the Acquisition,
please see Item 1.01 of our Current Report on Form 8-K filed with the SEC on March 27, 2012.
Attached as Exhibit 99.1 and incorporated
by reference in this Current Report are the audited consolidated balance sheets of Walker as of December 31, 2011 and 2010, and
the related audited consolidated statements of income, member's equity, and cash flows for each of the three years in the
period ended December 31, 2011.
Attached as Exhibit 99.2 and incorporated
by reference in this Current Report are the unaudited pro forma consolidated balance sheet of Wabash National Corporation as of
December 31, 2011, and the related unaudited pro forma consolidated statement of operations for the year ended December 31, 2011.
The pro forma consolidated statement of operations gives effect to the following (collectively, the "Transactions"):
·
The consummation of the Acquisition, and the financing arrangements currently contemplated to fund the Acquisition, which are
as follows:
o
the issuance of a $300 million senior secured first lien term note under a new term loan facility;
o
the issuance of $150 million in aggregate principal amount of convertible senior notes. We expect the notes would be convertible
into cash, shares of our common stock or a combination of cash and shares, at our election. W
e currently
intend to settle any conversion of notes through "net-share settlement," which we believe will help reduce the potential
equity dilution from issuance of convertible notes. Under "net-share settlement," when notes are converted, we pay
cash up to the principal amount of the notes being converted and deliver shares only for the conversion value in excess of the
principal amount, if any; and
o
the repayment of $60.6 million of borrowings under our existing senior secured revolving credit facility from surplus funds,
and the amendment and restatement of that facility into a $150 million senior secured revolving credit facility.
·
The payment of estimated underwriting commissions, financing origination fees and other Transaction related expenses in connection
with the foregoing.
The unaudited pro forma consolidated balance sheet assumes that
the Transactions occurred as of December 31, 2011, and the unaudited pro forma consolidated statement of operations for the year
ended December 31, 2011 assumes that the Transactions occurred on January 1, 2011. Adjustments related to the Transactions are
described in the accompanying notes to the unaudited pro forma consolidated financial statements. The pro forma financial statements
were prepared for informational purposes and are not necessarily indicative of what our financial positions or results of operations
would have been had the Transactions occurred as reflected in the pro forma financial statements. These adjustments are based on
currently available preliminary information and certain estimates and assumptions and, therefore, the actual effects of the Transactions
may differ from the effects reflected in these unaudited pro forma consolidated financial statements. However, management believes
that the assumptions provide a reasonable basis for presenting the significant effects of the Transactions as contemplated and
that the pro forma adjustments give appropriate effect to those assumptions and are properly applied in the unaudited pro forma
consolidated financial statement.
6
Safe Harbor Statement
This Form 8-K contains certain forward-looking statements, as
defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements convey our current expectations or
forecasts of future events. All statements contained in this Form 8-K other than statements of historical fact are forward-looking
statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially
from those implied by the forward-looking statements. Readers should review and consider the various disclosures made by the Company
in its filings with the Securities and Exchange Commission, including the risks and uncertainties described therein.
Section 9
Financial Statements and Exhibits
Item 9.01
Financial Statements and Exhibits
(d)
Exhibits
Exhibit No.
Exhibit
23.1
Consent of BDO USA, LLP
99.1
Audited balance sheets of Walker Group Holdings LLC as of
December 31, 2011 and 2010, and the related audited consolidated statements of income, members' equity, and cash flows for
each of the three years in the period ended December 31, 2011
99.2
Unaudited pro forma consolidated balance sheet of Wabash
National Corporation as of December 31, 2011, and the related unaudited pro forma consolidated statement of operations for the
year ended December 31, 2011
7
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Wabash National Corporation
Date: April 13, 2012
By:
/s/ Mark J. Weber
Mark J. Weber
Senior Vice President and
Chief Financial Officer
8
INDEX OF EXHIBITS
Exhibit No.
Exhibit
23.1
Consent of BDO USA, LLP
99.1
Audited balance sheets of Walker Group Holdings LLC as of
December 31, 2011 and 2010, and the related audited consolidated statements of income, members' equity, and cash flows for
each of the three years in the period ended December 31, 2011
99.2
Unaudited pro forma consolidated balance sheet of Wabash
National Corporation as of December 31, 2011, and the related unaudited pro forma consolidated statement of operations for the
year ended December 31, 2011
9