---
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"
generated_at: "2026-10-12T14:08:13.352975+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# TXNM 5.75% convertible notes become convertible Oct 1-Dec 31, 2026 at ~$44.32/share

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 8.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001108426-26-000061
- JSON: https://secwatch.observer/filing/0001108426-26-000061.json
- Plain text: https://secwatch.observer/filing/0001108426-26-000061.txt

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