Gentherm completed its previously announced combination with Modine Manufacturing’s Performance Technologies business through a $946.4 million Reverse Morris Trust transaction. Modine shareholders received 0.44619 Gentherm shares for each Modine share held as of the September 28, 2026 record date and now own approximately 43.62% of the combined company, while existing Gentherm shareholders own approximately 56.38%, excluding overlapping ownership. Modine also received approximately $156 million in cash from Platinum SpinCo to repay debt. The separation leaves Modine focused on thermal management markets including data center cooling, commercial HVAC and refrigeration. Modine plans to seek shareholder approval within three months to change its corporate name to Modexus Solutions while retaining the MOD ticker on the New York Stock Exchange. Gentherm acquired the Modine brand, domains and trademarks and will continue using the Modine name for its businesses. Modine shares were down 3.81% at $182.00 in Friday premarket trading, according to Benzinga Pro. The transaction also added Paul Mascarenas to Gentherm’s board, expanding it to 10 directors, and included a $2.07-per-share special dividend for Gentherm shareholders.