Reported Earlier, TXNM Energy Prices $400M Underwritten Stock Offering Of 7..08M Shares At $56.50/Share To Repay Debt
TXNM Energy, Inc. ("TXNM Energy") (NYSE:TXNM) announced today that it has priced an underwritten public offering of 7,079,646 shares of its common stock, no par value, at a public offering price of $56.50 per
TXNM Energy is selling new shares to raise $400 million to pay off money it owes. When a company does this, watch whether investors stay interested in owning the stock, since new shares mean each current owner's piece gets a tiny bit smaller.
Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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