Shareholder Approval Secured

Gentherm (THRM) shareholders have approved the combination with Modine's Performance Technologies business, clearing the last major hurdle before the deal closes on October 1. The vote was overwhelmingly in favor, with approximately 99% of votes cast supporting the issuance of new Gentherm shares to Modine shareholders, and about 94% of Gentherm's outstanding shares backing the charter change. The transaction is on track to close, following a quarter that showed Gentherm's growth momentum, with second‑quarter product revenue reaching $416.2 million, up 11.0% from the previous year. The company raised its full‑year guidance on revenue, adjusted EBITDA, and adjusted free cash flow, driven by growth in automotive climate and comfort solutions and new business awards. Gentherm's management has also backed its growth with capital, authorizing a new $400 million stock repurchase program. However, the integration of Modine's Performance Technologies business remains an open question, and the exchange ratio that will decide how much of the combined company each side owns is still unresolved.