PNM Resources extends merger deadline with Avangrid to July 20, 2023

TXNM ENERGY INC

Merger End Date extended from April 20 to July 20, 2023; NMPRC approval still pending.
Joint motion to dismiss and remand appeal of NMPRC denial remains pending at NM Supreme Court.
Entered forward sale agreements for ~$50M equity under ATM program; weighted-average forward price $48.39.
Added interest rate hedges: $150M for 2023 and $300M for 2024, both at average 3.6%.
Q1 2023 earnings results and conference call scheduled for May 5, 2023 at 11 a.m. ET.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TXNM ENERGY INC amended Amendment No. 2 to the Merger Agreement with Avangrid, Inc. (effective 2023-04-12).

Action: amendment
Agreement: merger
Counterparty: Avangrid, Inc.
Effective: 2023-04-12

Exact text from the filing

On April 12, 2023, PNMR, Avangrid and Merger Sub entered into Amendment No. 2 to the Merger Agreement (the “Second Amendment”) pursuant to which PNMR and Avangrid each agreed to extend the “End Date” until July 20, 2023.

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273 material agreements filed in the last 30 days. Browse all material agreements →

TXNM ENERGY INC filing history →

Source: SEC EDGAR

accession 0001108426-23-000016

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