Modine amends credit facility to enable Performance Technologies spin-off

Filed May 5, 2026 · Period ending April 30, 2026 · ~1 min read

Key Changes

• high

  Modine secured lender approval to separate and spin off its Performance Technologies business under a merger agreement signed in January 2026, removing a key financing obstacle to the transaction.

  Item 1.01 verify on EDGAR →
• medium

  The amendment allows a newly formed subsidiary to borrow funds held in escrow until the spin-off closes, with 100% of proceeds required to prepay Modine's existing credit facility upon release.

  Item 1.01 verify on EDGAR →
• medium

  This is the second amendment to Modine's credit agreement since it was restated in July 2025, indicating active management of financing terms around the separation.

  Item 1.01 verify on EDGAR →