Whirlpool announced Wednesday it expects to raise approximately $963 million through a pair of public offerings, with proceeds earmarked for debt reduction and strategic investments in automation and vertical integration. The appliance manufacturer priced a public offering of 6,884,057 shares of its common stock at $69 per share, and a separate offering of 105 million depositary shares, each representing a 1/6th share of common stock, at $50 per share.
According to a company statement, net proceeds from the common stock offering are anticipated to be around $454.9 million, assuming underwriters do not exercise their option to purchase additional shares. The depositary share offering is expected to generate approximately $508.1 million, also contingent on underwriters not exercising their over-allotment option. These figures account for applicable underwriting discounts and estimated offering expenses.
The company intends to use the net proceeds to pay down outstanding balances on its revolving credit facility and to fund general corporate purposes, including investments in vertical integration and automation technologies. This move comes as Whirlpool, like other manufacturers, seeks to bolster supply chain resilience and improve operational efficiency.
Merus N.V. Also announced pricing for a public offering of its ordinary shares on June 5, 2025, setting the launch price at $57.00 per share for 5,263,158 shares. Merus granted underwriters a 30-day option to purchase up to 789,473 additional shares. The gross proceeds from the offering, before underwriting discounts and expenses, are projected to be nearly $300 million. Merus plans to use the net proceeds to advance clinical development of its product candidates, preclinical research, and technology development, as well as for general corporate purposes.
Portland General Electric also recently completed a public offering, pricing approximately 9.5 million shares of common stock at $50.70 per share on February 18, 2026. The underwriters were granted an option to purchase additional shares.
Merus N.V. Had previously announced a similar offering in May 2024, granting underwriters an option to purchase up to 1,132,500 additional ordinary shares.
