MODINE MANUFACTURING CO (MOD) Form 8-K — Oct 1, 2026
Modine completed on October 1, 2026 the spin-off of its Performance Technologies business and its Reverse Morris Trust combination with Gentherm, a transaction valuing the divested business at approximately $946.4 million based on Gentherm's September 30 closing price. Modine shareholders received 0.44619 Gentherm shares per Modine share as of the September 28, 2026 record date, with Gentherm issuing 23,735,961 shares in total; former Modine holders own about 43.62% of the combined company. Modine also received a cash distribution of $155,991,275, which it used to prepay borrowings under its JPMorgan-agented credit agreement.
Key figures
- Deal Value Usd
- 946400000
- Record date
- September 28, 2026
- Cash distribution
- 155991275
- Gentherm shares issued
- 23735961
- Spinco post merger name
- Modine Global, Incorporated
- Planned new company name
- Modexus Solutions
- Gentherm holders prior to closing
- 56.38%
- Original cash distribution amount
- 210000000
- Gentherm special dividend per share
- 2.07
- Exchange ratio gentherm per modine share
- 0.44619
- Former modine holders of combined company
- 43.62%
AI analysis
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