TXNM Energy Prices $400 Million Common Stock Offering
Albuquerque-based TXNM Energy is tapping capital markets with a public offering of 7,079,646 shares priced at $56.50 each. The utility holding company expects to generate approximately $400 million in gross proceeds, which the firm plans to direct toward the full repayment of an outstanding term loan.
Wells Fargo Securities is managing the book-running process for the offering, which is expected to close on or about September 2, 2026. The shares are being issued under an effective shelf registration statement filed with the Securities and Exchange Commission.
TXNM Energy serves over 800,000 customers across Texas and New Mexico through its TNMP and PNM utility subsidiaries. The company noted that the finalization of the sale remains subject to customary closing conditions, and market volatility or shifting interest rates could influence the ultimate outcome of the transaction.
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