TXNM Energy, Inc. has completed an underwritten public offering of common stock, raising approximately $396 million in net proceeds. The filing details that the company issued 7,079,646 shares of its common stock, no par value, at a price of $55.935 per share. The transaction was managed by Wells Fargo Securities as the sole book-running manager.
The offering closed on September 2, 2026. According to the filing, the net proceeds will be used to repay borrowings under the company's $400 million term loan agreement. The transaction was registered under a shelf registration statement on Form S-3 (File No. 333-285426).
The company’s press release accompanying the filing notes that the offering was subject to market and other conditions. It also stated that the company intends to use the net proceeds for the repayment of the term loan, as detailed in the prospectus supplement filed with the SEC.
