{"schema_version":"secwatch.filing_event.v1","accession":"0001108426-26-000061","form_type":"8-K","ticker":"TXNM","cik":"0001108426","company_name":"TXNM ENERGY INC","filed_at":"2026-09-30T20:45:08+00:00","discovered_at":"2026-09-30T20:46:00.240417+00:00","generated_at":"2026-10-12T14:08:13.352975+00:00","sec_items":["8.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.4,"calibrated_materiality_score":0.4,"confidence":"high","headline":"TXNM 5.75% convertible notes become convertible Oct 1-Dec 31, 2026 at ~$44.32/share","bullets":["Holders of the 5.75% Junior Subordinated Convertible Notes due 2054 may convert in Q4 2026 at 22.5654 shares per $1,000 principal, equal to roughly $44.32 per share.","Convertibility triggered because TXNM common stock traded at or above 130% of the $44.32 conversion price on at least 20 of the 30 trading days ended Sept 30, 2026.","Converting holders get an equal principal amount of new 5.75% non-convertible junior subordinated notes due June 1, 2054, plus common stock for any excess conversion value; no cash for principal.","TXNM cautions the non-convertible notes may trade below $1,000 principal and be illiquid, noting its 7.000% junior subordinated notes due 2056 issued Dec 10, 2025.","Blackstone merger at $61.25/share cash would be a make-whole fundamental change; holders could convert for cash for 35 trading days after closing, pending New Mexico PRC approval."],"urls":{"canonical":"https://secwatch.observer/filing/0001108426-26-000061","json":"https://secwatch.observer/filing/0001108426-26-000061.json","markdown":"https://secwatch.observer/filing/0001108426-26-000061.md","text":"https://secwatch.observer/filing/0001108426-26-000061.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1108426/000110842626000061/0001108426-26-000061-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1108426/000110842626000061/pnm-20260930.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T14:08:13.352975+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}