Whirlpool completes upsized $1.12B equity recapitalization, repays revolver

WHIRLPOOL CORP /DE/

Upsized common stock offering of 6,884,057 shares at $69/sh (plus 1,014,493 overallotment) raised ~$545M gross.
Upsized depositary shares offering of 10,500,000 units at $50/sh (plus 1,000,000 overallotment) raised ~$575M gross; preferred stock carries 8.50% dividend.
Total gross proceeds ~$1.12B used to repay revolving credit facility and for strategic investments in automation and vertical integration.
Preferred stock automatically converts into 12.3340–14.4920 common shares per share (0.6167–0.7246 per depositary share) on Feb 15, 2029 unless earlier converted.
Separate $30M private placement of 434,782 common shares at $69/sh to Guangdong Whirlpool Electrical Appliances, subject to approvals, expected close July 31, 2026.

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