BX · News · 20260909N

TXNM Blackstone Deal Dispute

Blackstone Inc. · 2026-09-09 · Importance 45 · Surprise 50

TXNM Energy priced a $400 million equity offering to repay a $400 million term loan used to unwind a previously voided PIPE transaction with Blackstone. The equity issuance is expected to dilute existing TXNM shareholders by approximately 6.4%, while reducing interest expense and strengthening TXNM’s balance sheet. TXNM’s acquisition by Blackstone has been extended to May 2027 and remains subject to further delay or failure.

Key facts

• TXNM priced a $400 million equity offering to repay term debt used to unwind a previously voided PIPE transaction with Blackstone. source