425 ·Filed Jul 2, 2026

THRM

Gentherm Inc
NEUTRAL
Impact 5/10
Horizonmonths Processed3mo ago SEC0001193125-26-293503
Rule 425 M&A communications
Actionable Insight • Neutral

The credit facility removes financing uncertainty for the SpinCo acquisition. Monitor for shareholder vote and regulatory approvals; deal closing is expected by end of 2026.

DirectionNeutral
Confidencehigh
Horizonmonths
Latest settled — T+60d ⚠ clustered
THRM ▲ +0.03% at T+60d
NEUTRAL call ✓ call won +0.03% · α vs SPY -2.98% · entry $33.88 → $33.89
Next anchor: T+1d due 3mo ago
Entry anchored
Jul 1, 03:59 PM ET
via exchange tick
T+1d
—
call — · α —
—
due 3mo ago
T+5d
+5.31%
call +5.31% · α +4.38%
$35.68
settled 3mo ago
T+20d
+24.91%
call +24.91% · α +25.33%
$42.32
settled 2mo ago
T+60d
+0.03%
call +0.03% · α -2.98%
$33.89
settled 4d ago

Price Chart

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Executive Summary

Gentherm filed a Form 8-K/425 disclosing a $550 million secured revolving credit facility to refinance existing debt and fund its pending acquisition of Modine's Performance Technologies business (SpinCo). The credit agreement, dated June 29, 2026, includes a $50 million swingline and $30 million letter of credit sublimit, maturing June 29, 2031. No changes to the merger terms or timeline were disclosed.

Key Financial Metrics

Deal Value
$550.0M
Deal Type
credit_facility

Key Facts

  • Entered into a $550M secured revolving credit facility with a $50M swingline sublimit and $30M letter of credit sublimit, maturing June 29, 2031.
  • The credit agreement refinances existing debt and supports general corporate purposes, including the pending SpinCo acquisition.
  • The transaction structure remains 60% Modine / 40% Gentherm ownership, with $25M near-term cost synergies and $100M+ commercial opportunities targeted.
  • Mirror Loans of up to $40M are available to consummate the Mirror Transactions (SpinCo merger).
  • No changes to deal terms or closing timeline (by end of 2026) were disclosed.

Financial Impact

New $550M credit facility provides liquidity for the pending acquisition, replacing existing debt.

debtliquidity

Risk Factors

  • Failure to meet closing conditions (regulatory approvals, shareholder vote).
  • Integration risks and synergy realization may fall short.

Market Snapshot

Exchange
Nasdaq
Sector
Motor Vehicle Parts & Accessories
Analyst Consensus
71% bullish (14 analysts)

Investment Themes

Industrials & Manufacturing

Documents Analyzed

This report is based on 4 SEC documents filed with EDGAR.

DocumentAccession Number
425 Filing (Primary)0001193125-26-293503
Document: 0001193125-26-293503-index-headers.html0001193125-26-293503
Document: 0001193125-26-293503-index.html0001193125-26-293503
Document: 0001193125-26-293503.txt0001193125-26-293503
18 reports for THRM
Performance horizon
70% Hit rate 7 of 10 directional calls best @ T+20▲ +20.85%Jul 7, 2026
Filters
Rows
Reports for THRM — sortable, filterable
TypeNow
Sep 11, 2026
21d ago
8-K
BULLISH ★ 6/10
$38.85 $36.35▼ −6.43%▼ −6.21%$31.30 (−19.43%)
Sep 10, 2026
22d ago
Press Release
BULLISH ★ 7/10
$38.33 $37.66▼ −1.75%▼ −1.25%$31.30 (−18.34%)
Aug 13, 2026
7w ago
EFFECT
NEUTRAL ★ 3/10
$43.07 $40.67▼ −5.57%▼ −3.61%$31.30 (−27.33%)
Jul 23, 2026
10w ago
425 / 8-K
BULLISH ★ 6/10
$45.61 $42.32▼ −7.21%▼ −7.69%$31.30 (−31.37%)
Jul 23, 2026
10w ago
Press Release
BULLISH ★ 7/10
$45.61 $42.32▼ −7.21%▼ −7.69%$31.30 (−31.37%)
Jul 22, 2026
10w ago
Press Release
NEUTRAL ★ 3/10
$45.61 $42.32▼ −7.21%▼ −7.69%$31.30 (−31.37%)
Jul 20, 2026
10w ago
Press Release
BULLISH ★ 6/10
$36.64 $42.07▲ +14.82%▲ +16.05%$31.30 (−14.57%)
Jul 7, 2026
12w ago
Press Release
BULLISH ★ 6/10
$34.48 $35.89▲ +4.09%▲ +3.23%$31.30 (−9.22%)
Jul 2, 2026
13w ago
425
NEUTRAL ★ 5/10
$33.88 $35.68▲ +5.31%▲ +4.38%$31.30 (−7.62%)
Jul 2, 2026
13w ago
8-K
NEUTRAL ★ 3/10
$33.88 $35.68▲ +5.31%▲ +4.38%$31.30 (−7.62%)
Showing 10 of 18

US Market Status

Market Closed — Opens Mon (37h 46m)

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