Whirlpool slides after launching $800 mln stock, convertible offerings

Whirlpool WHR.N shares down 7.7% on thin premarket volume at $76.84 as home appliance maker seeks capital

WHR on track to fall for eighth consecutive session, if losses hold

Co late Mon launched public offerings of common stock and 3-yr mandatory convertible preferred stock for anticipated $800 mln raise

It intends to use net proceeds of concurrent offerings to repay some of its revolving credit facility and for general purposes, including strategic investments in vertical integration and automation

Wells Fargo, JP Morgan, and Citigroup lead bookrunners

Benton Harbor, Michigan-based Whirlpool has ~56.5 mln shares outstanding for $4.7 bln market cap

Through Mon close, shares up 15% YTD. Still, stock off ~26% from its 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