TXNM Energy notes become convertible in Q4 2026 after stock price trigger

• TXNM Energy notified holders that its 5.75% Junior Subordinated Convertible Notes due 2054 become convertible from Oct. 1, 2026 to Dec. 31, 2026.
• Conversion rate set at 22 shares per $1,000 principal, equivalent to a conversion price of about $44.32 per share.
• Conversions will be settled with $1,000 principal in new 5.75% non-convertible junior subordinated notes due 2054, not cash or stock.
• Any value above principal will be paid in common shares, with cash only for fractional shares, based on a 60-trading-day observation period.
• Convertibility was triggered by the stock trading at least 130% of the conversion price for 20 of 30 trading days ended Sept. 30, 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. TXNM Energy Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001108426-26-000061), on September 30, 2026, and is solely responsible for the information contained therein.