TXNM raises $200M via private placement to Zimmer affiliates; shares at $55.325

TXNM ENERGY INC

TXNM issued 3,615,003 shares at $55.325/share to Zimmer Partners and other purchasers for ~$200M.
Purchasers agreed to vote shares in favor of $TXNM's pending merger with Blackstone Infrastructure.
Shares subject to lock-up until Aug 15, 2025; TXNM also restricted from additional share sales.
TXNM granted customary registration rights; will file resale registration statement by early Aug 2025.
Proceeds from the private placement will be used for general corporate purposes.

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