Whirlpool launches $800 million stock offering to repay debt

2026-02-24 15:24:20

Investing.com – Whirlpool Corporation (NYSE: WHR) stock is expected to decline for the eighth consecutive trading day on Tuesday after the company announced a dual stock offering aimed at raising $800 million.

The home appliance manufacturer headquartered in Benton Harbor, Michigan, stated on Monday that it will conduct a public offering of common stock and three-year mandatory convertible preferred stock.

Whirlpool plans to use the net proceeds from both offerings to repay part of its revolving credit facility and for general corporate purposes, including strategic investments in vertical integration and automation.

Wells Fargo, J.P. Morgan, and Citigroup are serving as the lead underwriters for the offering.

The company currently has approximately 56.5 million shares outstanding, with a market capitalization of $4.7 billion.

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