TXNM ENERGY INC (TXNM) Form 424B5 — Aug 31, 2026
TXNM Energy has launched a $400,000,000 offering of common stock under a preliminary prospectus supplement filed August 31, 2026, with Wells Fargo Securities as sole underwriter. The stock last traded at $57.64 on August 28, 2026, implying roughly 6-7% dilution against 103,046,111 shares outstanding. Proceeds will repay the $400 million TXNM 2026 Term Loan held by Wells Fargo Bank, which matures January 17, 2029 and carries a 5.01% weighted average interest rate. That loan was drawn in July 2026 to repay the Blackstone-affiliated purchaser after the New Mexico Public Regulation Commission declared the original $400 million PIPE investment (8 million shares at $50.00) void.
Key figures
- Debt Amount
- 400000000
- Interest Rate
- 5.01% (weighted average on TXNM 2026 Term Loan)
- Maturity Date
- January 17, 2029 (TXNM 2026 Term Loan)
- Gross Proceeds
- 400000000
- Shares Offered
- $400,000,000 of common stock (exact share count not yet set in preliminary supplement)
- Shares Outstanding
- 103046111
- Lockup days
- 60
- Last sale date
- August 28, 2026
- Customers served
- approximately 846,000
- Implied dilution
- approximately 6-7% (calculated from $400M at $57.64 vs 103,046,111 shares outstanding)
- Pnm debt dec 2024
- $2,834 million (including $340.7 million secured)
- Voided pipe terms
- 8 million newly issued shares at $50.00 per share, closed June 2025, declared void by NMPRC on July 2, 2026
- Voided pipe amount usd
- 400000000
- Shares outstanding as of
- August 25, 2026
- Tnmp secured debt dec 2024
- $1,610 million
- Last reported sale price usd
- 57.64
- Txnm parent level debt dec 2024
- $555 million
Price after filing
Close on the filing date to close N calendar days later (from $57.61). Historical, not a forecast.
AI analysis
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