TXNM Energy priced an underwritten public offering of 7,079,646 shares of common stock at $56.50 per share, generating approximate gross proceeds of $400 million before underwriting discounts and estimated offering expenses. The company intends to use the net proceeds to repay borrowings under its $400 million term loan agreement. Wells Fargo Securities is the sole book-running manager. Closing is expected on or about September 2, 2026, subject to customary conditions. The offering is being conducted under an effective Form S-3 shelf registration statement filed with the Securities and Exchange Commission (SEC), with a preliminary prospectus supplement available through the SEC and Wells Fargo Securities. TXNM Energy serves more than 800,000 homes and businesses across Texas and New Mexico through its regulated utilities, TNMP and PNM.