Business
Whirlpool Announces Strategic Recapitalization to Accelerate Deleveraging and Strategic Growth
Whirlpool Corporation [NYSE: WHR] ("Whirlpool" or the "Company") announced today the launch of concurrent separate underwritten public offerings of (i) shares of common stock, par value $1.00 per share ("Common Stock") and (ii) depositary shares ("Depositary Shares"), each representing a 1/20th interest in a share of newly issued Series A Mandatory Convertible Preferred Stock, par value $1.00 per share ("Preferred Stock") (together, the "Offerings"). The aggregate proceeds from the Offerings are
About this update from Whirlpool Corporation
[{"type":"text","content":"BENTON HARBOR, Mich., Feb. 23, 2026 /PRNewswire/ -- Whirlpool Corporation [NYSE: WHR] ("Whirlpool" or the "Company") announced today the launch of concurrent separate underwritten public offerings of (i) shares of common stock, par value $1.00 per share ("Common Stock") and (ii) depositary shares ("Depositary Shares"), each representing a 1/20th interest in a share of newly issued Series A Mandatory Convertible Preferred Stock, par value $1.00 per share ("Preferred Stock") (together, the "Offerings"). The aggregate proceeds from the Offerings are anticipated to be $800,000,000. Whirlpool expects to grant to the underwriters of the Offerings a 30-day option to purchase additional shares of Common Stock and Depositary Shares, solely to cover over-allotments, if any. Whirlpool intends to use the net proceeds from the Offerings to repay a portion of the amounts outstanding under the Company's revolving credit facility and for general corporate purposes, including strategic investments in vertical integration and automation.","length":1109,"tagName":"p"},{"type":"image","alt":"Whirlpool Corporation (PRNewsFoto/Whirlpool Corporation)","displaySize":"","headline":null,"caption":"Whirlpool Corporation (PRNewsFoto/Whirlpool Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":134,"url":"https://media.zenfs.com/en/prnewswire.com/e5e83a55ee91c5c072556bafb60ddb3a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/vVyjH.vdWDjtC41Izd00Nw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIzNjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/e5e83a55ee91c5c072556bafb60ddb3a","width":400,"height":134}},"href":"https://mma.prnewswire.com/media/459726/whirlpool_corporation_logo_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Holders of the Depositary Shares will be entitled to a proportional fractional interest in the rights and preferences of the Preferred Stock, including conversion, dividend, liquidation and voting rights, subject to the provisions of a deposit agreement. The Preferred Stock is expected to have a liquidation preference of $1,000 per share. Unless earlier converted, each share of Preferred Stock will automatically convert, for settlement on or about February 15, 2029, into a variable number of...