TXNM Energy, Inc. extended its merger agreement with Blackstone Infrastructure Partners L.P. to May 31, 2027, to allow for further regulatory approvals. Following a New Mexico Public Regulation Commission order declaring a previous $400 million PIPE transaction void, the company entered into a $400 million term loan with Wells Fargo Bank, National Association, effective July 17, 2026, to unwind the transaction. TXNM Energy plans to issue common stock to repay this loan. The company also waived $175 million of a $350 million termination fee payable to Parent. TXNM Energy is an energy holding company that provides regulated utility services.
