---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-24-000054"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2024-06-05T23:59:59+00:00"
generated_at: "2026-06-01T06:10:47.375701+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# PNM Resources prices $500M of 5.75% convertible notes due 2054, proceeds to repay term loans

## Summary
- Raised $500M (plus $50M over-allotment) of 5.75% junior subordinated convertible notes maturing June 1, 2054.
- Initial conversion rate: 22.4911 shares per $1,000 principal; conversion price ~$44.46 (17.5% premium over June 4 close).
- PNM may defer interest for up to 20 consecutive semi-annual periods if no default.
- Net proceeds to repay a portion of outstanding term loans; offering expected to close June 10, 2024.
- Notes unsecured, junior to senior debt; callable after June 6, 2029 if stock at 130% of conversion price.

## SEC filing metadata
- accession: 0001108426-24-000054
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2024-06-05T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842624000054/0001108426-24-000054-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1108426/000110842624000054/pnm-20240604.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-24-000054
- JSON: https://secwatch.observer/filing/0001108426-24-000054.json
- Plain text: https://secwatch.observer/filing/0001108426-24-000054.txt

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