$58.550
-0.018 (-0.03%)At close
TXNM News
TXNM Events
TXNM Energy and Blackstone File Revised Merger Application with $300 Million Customer Benefits
TXNM Energy (TXNM), the parent company of PNM, and Blackstone Infrastructure (BX) announced they have filed a motion with the NMPRC seeking authorization to file a revised version of their merger application. "The motion included a draft of the revised application that would deliver $300 million in customer and community benefits as part of Blackstone Infrastructure's proposed acquisition of TXNM Energy. The revised application draft includes $220 million in direct customer rate credits, more than doubling the direct rate credit commitment included in the original application, while expanding commitments to workforce development, economic opportunity, and affordability programs across New Mexico," the companies stated.
Wells Fargo Prices Deal Below Last Close of $57.61
The deal priced below last closing price of $57.61 Wells Fargo is acting as sole book running manager for the offering.
TXNM Energy Launches $400M Underwritten Public Offering
TXNM Energy announced the commencement of an underwritten public offering of $400M of shares of its common stock, no par value. All of the shares are being offered by TXNM Energy. TXNM Energy intends to use the net proceeds to repay borrowings under its $400M term loan agreement. Wells Fargo Securities is acting as the sole book-running manager for this offering.
TXNM Energy Seeks Partnership with Blackstone Infrastructure
"Increased retail load at both PNM and TNMP, including new all-time system peaks this summer, underscores the need for grid investment to support growing customer demand," said Don Tarry, President and CEO of TXNM Energy. "We continue to pursue approval for our agreement with Blackstone Infrastructure to assist us in meeting these needs along with providing significant benefits and protections to our customers and communities."
TXNM Energy and Blackstone Extend Merger Agreement to May 31, 2027
TXNM Energy and Blackstone Infrastructure have extended the terms of their merger agreement under which Blackstone Infrastructure will acquire the outstanding common stock of TXNM Energy. The termination date under the agreement has been extended to May 31, 2027, to allow for further time to obtain regulatory approvals. The transaction has received approval from the Public Utility Commission of Texas, the Federal Energy Regulatory Commission, the Federal Communications Commission and under the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act. TXNM Energy shareholders overwhelmingly approved the merger in August 2025. The transaction is pending regulatory approval from the Nuclear Regulatory Commission and the New Mexico Public Regulation Commission. The NMPRC procedural schedule has been paused, pending the filing and review of a report showing compliance with a Commission order involving a 2025 stock transaction between TXNM Energy and Blackstone Infrastructure.
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