Modine-Gentherm deal: Oct 1 closing expected, exchange ratio up, special dividend set

MODINE MANUFACTURING CO

Modine sets Sept 28, 2026 record date for SpinCo spin-off; distribution expected Oct 1, 2026.
Exchange ratio to be increased; Gentherm to issue ~2.9M additional shares; SpinCo cash distribution cut from $210M to $159M.
Gentherm declares ~$58.35M special dividend (~$1.90/share) payable Oct 7, 2026 to Sept 28 record holders, conditioned on closing.
Post-close ownership: Gentherm holders ~56.4%, SpinCo holders ~43.6% (based on 31.23M fully diluted shares).
IRS private letter ruling received; Gentherm shareholders approved share issuance on Sept 10, 2026.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.