#United States #Preferred Stock #Common Stock #Benton Harbor #Whirlpool Corporation

Whirlpool Corporation Announces Major Stock Offerings Pricing

Whirlpool Corporation, a prominent name in the home appliance industry, has recently unveiled the pricing details for two separate public stock offerings. These strategic moves aim to enhance the company's financial standing and facilitate its growth ambitions.

Overview of the Offerings

On February 25, 2026, Whirlpool Corporation (NYSE: WHR) announced the price of common stock and depositary shares in their latest offerings. The company plans to sell 6,884,057 shares of its common stock at an offering price of $69.00 per share, alongside 10,500,000 depositary shares, each tied to a 1/20th interest in a newly issued 8.50% Series A Mandatory Convertible Preferred Stock, priced at $50.00 per depositary share. The collective aim of these offerings is to raise funds for corporate expenses and repay debt.

Timeline and Conditions

The closings of these offerings are projected for February 27, 2026, pending standard closing conditions. The company has also afforded the underwriters a 30-day option to purchase additional shares and depositary shares to accommodate potential over-allotments.

Additionally, on February 24, 2026, Whirlpool entered into a separate agreement to sell 434,782 shares of its common stock to Guangdong Whirlpool Electrical Appliances Co., Ltd. for a total of $30 million. This private placement is pending shareholder approval from Whirlpool China.

Financial Implications

The anticipated net proceeds from the common stock offering are estimated at approximately $454.9 million, while the depositary shares offering is expected to yield around $508.1 million, both figures calculated assuming no additional shares are purchased. These funds are crucial for repaying revolving credit facility balances and will also fuel investments in automation and vertical integration efforts.

Interests and Rights of Shareholders

Investors in the depositary shares will gain proportional rights to the preferred stock's benefits, including conversion, dividend accumulation, and voting rights. The preferred shares, which will accumulate dividends at an annual rate of 8.50%, are set to be paid quarterly. Unless converted sooner, the shares are set to convert automatically into common stock around February 15, 2029.

Leading Underwriters

Wells Fargo Securities, J.P. Morgan Securities, and Citigroup Global Markets are taking the lead in managing these offerings. Other financial institutions also aid alongside as co-managers, ensuring a robust process for the offerings.

Corporate Overview

Whirlpool Corporation, a leader in the home appliance sector, emphasizes constant innovation and improvement in consumer life. Recently reporting near $16 billion in annual net sales, the company continues to adapt to consumer needs through its well-regarded brand collection, which includes names like KitchenAid and Maytag.

The importance of these offerings can't be overstated; they signify Whirlpool's commitment to enhancing its market position while addressing financial responsibilities. Investors and market analysts alike await the successful closure of these offerings, as they are crucial in driving Whirlpool’s strategic investments and ongoing growth initiatives.

For more detailed information regarding this announcement, investors should reference Whirlpool's official communication channels and the SEC filings surrounding the offerings.