---
schema_version: "secwatch.filing_event.v1"
accession: "0001108426-26-000014"
form_type: "8-K"
ticker: "TXNM"
cik: "0001108426"
company_name: "TXNM ENERGY INC"
filed_at: "2026-03-31T23:59:59+00:00"
generated_at: "2026-05-15T08:05:40.442034+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# TXNM Energy's 5.75% convertible notes become convertible; holders to receive non-convertible notes plus stock

## Summary
- Convertible notes (5.75% due 2054) convertible from April 1 to June 30, 2026, at conversion price of ~$44.37/share.
- Upon conversion, holders receive equal principal of new 5.75% non-convertible subordinated notes due 2054 plus stock for any excess.
- Conversion triggered by stock price exceeding 130% of conversion price for 20 of 30 trading days ending March 31, 2026.
- Pending merger with Blackstone at $61.25/share would be a make-whole fundamental change, allowing cash-only conversion.
- Company warns new non-convertible notes may trade below par given recent 7% issuance and lower liquidity.

## SEC filing metadata
- accession: 0001108426-26-000014
- form_type: 8-K
- ticker: TXNM
- cik: 0001108426
- company_name: TXNM ENERGY INC
- filed_at: 2026-03-31T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1108426/000110842626000014/0001108426-26-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1108426/000110842626000014/pnm-20260331.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-26-000014
- JSON: https://secwatch.observer/filing/0001108426-26-000014.json
- Plain text: https://secwatch.observer/filing/0001108426-26-000014.txt

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