Whirlpool Corporation is raising approximately $800 million through a public stock offering, with plans to use the proceeds to reduce debt and invest in factory automation and vertical integration.
The appliance maker announced on Monday it will sell a combination of common stock and a new series of mandatory convertible preferred shares. The preferred shares will eventually convert into common stock in 2029.
Whirlpool said it intends to use the net proceeds to repay a portion of its revolving credit facility and for general corporate purposes, including strategic investments aimed at strengthening its manufacturing footprint and operational efficiency. The move effectively raises new equity capital while positioning the company to modernize operations and improve financial flexibility.
Additional details, including dividend terms and final pricing, will be determined at the time of the offering.
