TXNM Energy launches $400M common stock offering

TXNM Energy, Inc. (NYSE: TXNM) announced the commencement of an underwritten public offering of $400 million of shares of its common stock, with all shares being offered by the company.

The Albuquerque, New Mexico-based energy holding company said it intends to use the net proceeds to repay borrowings under its $400 million term loan agreement. Wells Fargo Securities is acting as the sole book-running manager for the offering.

The offering is being made pursuant to an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission. The company noted the offering is subject to market and other conditions, and there is no assurance as to whether or when it may be completed, or as to the actual size or terms.

TXNM Energy delivers energy to more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM.

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