Whirlpool dips after upsized stock, convertible deals priced

Whirlpool

25/02/2026 12:10

** Whirlpool WHR.N shares down 0.6% at $71.26 premarket after home appliance maker's above-target raise

    ** Co early Weds announces pricing public offerings of ~6.9 mln shares at $69 for $475 mln raise and
    $525 mln 8.5% 3-yr mandatory convertible preferred stock

    ** In addition, co says sold $30 mln worth of shares at $69 in private placement to Guangdong Whirlpool Electrical Appliances Co., a subsidiary of Shanghai-listed Whirlpool China 600983.SS

    ** WHR shares tumbled ~14% to close at $71.67 on Tues after co launched concurrent $800 mln offerings to repay debt and for general purposes, including strategic investments in automation

    ** Wells Fargo, JP Morgan, and Citigroup lead bookrunners for offering

** Through Tues, WHR shares down 0.7% YTD and ~36% below intraday 52-week high of $111.96 hit in early Jul

    ** Avg rating of 10 analysts is "hold"; median PT $79.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))