On October 1, 2026, Gentherm completed a Reverse Morris Trust transaction to acquire Modine Manufacturing Company’s Performance Technologies business. Modine shareholders received 0.44619 shares of Gentherm common stock for each share held as of the September 28, 2026 record date, resulting in them owning approximately 43.62% of the combined company. Gentherm declared a special cash dividend of $2.07 per share, payable on October 7, 2026 to shareholders of record as of September 28, 2026. The transaction involved SpinCo borrowing $250 million under a credit facility and Gentherm increasing its authorized common stock from 55 million to 110 million shares. Paul Mascarenas was appointed to the board, expanding it to ten members. Gentherm is a global leader in thermal and precision flow management technologies for automotive, medical, and industrial markets.
