Modine completes spin-off of Performance Technologies business and combination with Gentherm

Bitget2026/10/01 20:39

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Modine completed the spin-off of its Performance Technologies business, which combined with Gentherm in a single transaction.
Modine shareholders received 0.44619 Gentherm shares per Modine share held on Sept. 28, 2026, with cash for fractional shares.
Post-close ownership split: former Modine shareholders 43.62% of Gentherm, legacy Gentherm shareholders 56.38%.
Modine received about $156 million in cash, used to repay debt; shareholders kept their Modine shares.
Gentherm acquired the Modine brand and trademarks; Modine plans to seek shareholder approval to rename itself Modexus Solutions.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Modine Manufacturing Company published the original content used to generate this news brief via PR Newswire (Ref. ID: 202610011638PR_NEWS_USPR_____NY61860) on October 01, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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智通财经•2026/10/25 10:51