Acquisition | THERMON GROUP HOLDINGS INC | 2nd June 2026

May 28, 2026

Announcement

Acquisition | THERMON GROUP HOLDINGS INC | 2nd June 2026

Initially announced on February 23, 2026, CECO ENVIRONMENTAL CORP made a cash and stock offer for THERMON GROUP HOLDINGS INC. At a special meeting held on May 28, 2026, the shareholders of THERMON GROUP HOLDINGS INC approved the proposed merger. In accordance with the terms of the Merger Agreement, THERMON GROUP HOLDINGS INC shareholders have a right to receive either: (i) 0.811 shares of CECO ENVIRONMENTAL CORP common stock per share of THERMON GROUP HOLDINGS INC Common stock (Stock Consideration), (ii) a combination of 0.6840 of a share of CECO ENVIRONMENTAL CORP common stock and $10.00 in cash (Mixed Consideration), (iii) $63.89 in cash per share of THERMON GROUP HOLDINGS INC common stock (Cash Consideration). Based on the results, THERMON GROUP HOLDINGS INC stockholders who did not make a valid election prior to the election deadline will be entitled to receive the Mixed Consideration. Trading in shares of THERMON GROUP HOLDINGS INC is expected to be halted effective June 1, 2026. In the absence of an active market, the last close price will reflect the Deal Terms of the transaction.

The treatment below will be applied to the following indices:

  • THERMON GROUP HOLDINGS INC will be removed from the Index.
  • The weight of THERMON GROUP HOLDINGS INC (THR.N) based on its last close price will be distributed pro rata to remaining Index constituents.
  • Effective Date (open): 02/06/2026

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  • THERMON GROUP HOLDINGS INC will be removed from the Index.
  • The shares of CECO ENVIRONMENTAL CORP (CECO.OQ) will be increased according to the stock terms of the transaction.
  • The cash portion of the transaction will be distributed pro rata to remaining Index constituents.
  • Effective Date (open): 02/06/2026

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