TXNM Energy, Inc. has priced an underwritten public offering of 7,079,646 shares of its common stock at $56.50 per share, expecting gross proceeds of approximately $400 million. The company plans to use the net proceeds to repay borrowings under its $400 million term loan agreement. Wells Fargo Securities is the sole book-running manager for the offering, which is expected to close on or about September 2, 2026. The offering is made under an effective shelf registration statement on Form S-3 filed with the SEC.
TXNM Energy, Inc.Priced $400M common stock offering, diluting existing shareholders.
