---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-23-000016"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2023-04-12T23:59:59+00:00"
generated_at: "2026-06-17T02:55:04.138211+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001108426-23-000016
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2023-04-12T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842623000016/0001108426-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1108426/000110842623000016/pnm-20230412.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-23-000016
- JSON: https://secwatch.observer/filing/0001108426-23-000016.json
- Plain text: https://secwatch.observer/filing/0001108426-23-000016.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108426/000110842623000016/0001108426-23-000016-index.htm

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