The New Mexico Public Regulation Commission (NMPRC) issued a final order declaring a $400 million PIPE Transaction involving TXNM Energy, Inc. and Blackstone Infrastructure Partners L.P. affiliates to be void and of no effect due to lack of prior authorization. The order requires the merger parties to file a compliance report within 45 days to demonstrate how they have unwound the transaction and mandates an aggregate penalty of $300,000. TXNM Energy, Inc. is an energy company providing utility services in New Mexico.
