TXNM says New Mexico regulator voids $400 million Blackstone-affiliated PIPE tied to merger deal

TXNM Energy

TXNM

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Blackstone Infrastructure Partners affiliates agreed to acquire TXNM Energy via a merger, taking the utility holding company private.
New Mexico regulators ordered the unwinding of a related USD 400 million PIPE that funded 8 million new shares at USD 50 each.
The order declared the PIPE void, required a compliance plan within 45 days, and paused the merger review timetable pending that filing.
Penalties of USD 100,000 each were assessed on TXNM, the buyer group’s parent entity, and the PIPE purchaser.

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