secwatch.observer — SEC 8-K summary
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Issuer:     TXNM ENERGY INC (TXNM)
CIK:        0001108426
Form:       8-K
Filed at:   2026-01-02T23:59:59+00:00
Accession:  0001108426-26-000002
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

TXNM Energy announces Q1 2026 conversion period for 5.75% convertible notes at $44.40/share
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- Conversion period Jan 1–Mar 31, 2026; trigger: stock price above 130% of $44.40 conversion price for 20 of 30 days.
- Holders converting receive new 5.75% non-convertible junior sub notes due 2054 for principal plus common stock for excess.
- No cash paid for principal; new notes less liquid and may trade below $1,000 par; no outstanding at filing.
- Merger with Blackstone affiliates at $61.25/share would create make-whole conversion right to receive cash per $1,000 notes.
- Company makes no recommendation to holders on whether to convert; conversion agent is Computershare Trust.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1108426/000110842626000002/0001108426-26-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1108426/000110842626000002/pnm-20260102.htm
  HTML page:      https://secwatch.observer/filing/0001108426-26-000002

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