Modine to become Modexus

Gentherm (THRM) shareholders approved a merger with Modine's Performance Technologies business, with 99% voting in favor. The deal is set to close on October 1. Gentherm reported Q2 revenue of $416.2M, up 11%, and raised full-year guidance. However, gross margin slipped to 23.2% due to higher costs. The final exchange ratio will be determined at closing.

Modine (NYSE: MOD) will rebrand as Modexus Solutions after completing a spinoff and merger with Gentherm. The name change requires shareholder approval. The company will continue trading under the ticker MOD. The transaction is expected to close on October 1, 2026, subject to customary closing conditions. Modexus Solutions will focus on thermal management solutions for high-growth markets.

Modine Manufacturing (NYSE:MOD) shares rose 1.8% after-hours after announcing plans to rebrand as Modexus Solutions post-merger with Gentherm. The name change, pending shareholder approval, will occur after the spinoff of its Performance Technologies business. The merger is expected to close October 1, 2026. The new name reflects its focus on thermal management solutions. Modine will continue trading under the ticker MOD.

Modine (MOD) stock rose after reporting record Q4 and annual sales, with revenue up 47% YoY to $954.4M and EPS at $1.71, beating estimates. The company secured a $4B AI cooling deal, expecting $1.3B annual revenue from 2027-2029. MOD projects 20-35% sales growth for fiscal 2027.

Modine Manufacturing (MOD) stock rose 5.0% after Hunterbrook Media released a bullish report, citing internal data modeling $23B in data-center demand from major customers. The report suggested a $4B agreement with Google. Modine's Q1 sales were $874.1M, up 28% YoY, with data-center revenue surging 90%. The broader market had modest gains.

Modine shares rose over 5% in pre-market trading after Hunterbrook Media reported a long position in the company, citing potential for significant data-center cooling business growth. Hunterbrook estimates $23B in modeled demand from Google, AWS, and Crusoe, with Modine's pipeline suggesting $540M in Q3 revenue, 20% above guidance. Risks include execution challenges and supply bottlenecks.