---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-24-000002"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2024-01-02T23:59:59+00:00"
generated_at: "2026-06-07T05:04:48.403088+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# PNM Resources merger with Avangrid terminated as of Dec 31, 2023; Avangrid did not accept extension

## Summary
- Avangrid terminated merger agreement on Dec 31, 2023, after end date; PNM Board had approved extension.
- All federal/state approvals received except NM Supreme Court decision on appeal of denial.
- CEO Pat Vincent-Collawn expressed disappointment; company focuses on infrastructure and 5% long-term earnings growth.
- PNM will provide financial update on Feb 6, 2024, including preliminary 2023 results and 2024 guidance.

## SEC filing metadata
- accession: 0001108426-24-000002
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2024-01-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842624000002/0001108426-24-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1108426/000110842624000002/pnm-20240102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-24-000002
- JSON: https://secwatch.observer/filing/0001108426-24-000002.json
- Plain text: https://secwatch.observer/filing/0001108426-24-000002.txt

## Key facts
- Material Agreements
  TXNM ENERGY INC terminated Agreement and Plan of Merger with PNM Resources, Inc., Avangrid, Inc., and NM Green Holdings, Inc. (effective 2023-12-31).
  - Action: termination
  - Agreement: merger
  - Counterparty: PNM Resources, Inc., Avangrid, Inc., and NM Green Holdings, Inc.
  - Effective: 2023-12-31
  source text: On December 31, 2023, Avangrid informed PNMR that it was terminating the Merger Agreement (the “Termination”), effective as of December 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1108426/000110842624000002/0001108426-24-000002-index.htm

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