---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-22-000070"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2022-11-10T23:59:59+00:00"
generated_at: "2026-06-21T22:13:41.598062+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# PNM Resources enters $200M at-the-market equity distribution agreement

## Summary
- Up to $200M of common stock may be sold via ATM offerings through BofA, MUFG, and Wells Fargo.
- Agents receive up to 2% commission; forward purchase agreements with Bank of America, MUFG, and Wells Fargo are also permitted.
- Sales may occur on NYSE or through negotiated transactions at prices determined by market conditions.
- Company not obligated to sell any shares; proceeds expected for general corporate purposes.

## SEC filing metadata
- accession: 0001108426-22-000070
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2022-11-10T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842622000070/0001108426-22-000070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1108426/000110842622000070/pnm-20221110.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-22-000070
- JSON: https://secwatch.observer/filing/0001108426-22-000070.json
- Plain text: https://secwatch.observer/filing/0001108426-22-000070.txt

## Key facts
- Material Agreements
  TXNM ENERGY INC entered into Distribution Agreement with BofA Securities, Inc., MUFG Securities Americas Inc., Wells Fargo Securities, LLC, Bank of America, N.A., MUFG Securities EMEA plc, Wells Fargo Bank, N.A. valued at up to an aggregate sales price of $200 million (effective 2022-11-10).
  - Action: entry
  - Agreement: atm program
  - Counterparty: BofA Securities, Inc., MUFG Securities Americas Inc., Wells Fargo Securities, LLC, Bank of America, N.A., MUFG Securities EMEA plc, Wells Fargo Bank, N.A.
  - Value: up to an aggregate sales price of $200 million
  - Effective: 2022-11-10
  source text: On November 10, 2022, PNMR Resources, Inc. (the “Company”) entered into a Distribution Agreement (the “Distribution Agreement”) with BofA Securities, Inc., MUFG Securities Americas Inc. and Wells Fargo Securities, LLC (each, a “Sales Agent” and collectively, the “Sales Agents”) and Bank of America, N.A., MUFG Securities EMEA plc and Wells Fargo Bank, N.A., as Forward Purchasers (each, a “Forward Purchaser” and collectively, the “Forward Purchasers”), pursuant to which the Company may sell, from time to time, up to an aggregate sales price of $200 million of its common stock, no par value (the “Shares”), through the Sales Agents.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108426/000110842622000070/0001108426-22-000070-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.