PNM Resources Files 8-K for Material Agreement

TL;DR

PNM Resources signed a big deal, filing an 8-K today.

AI Summary

PNM Resources, Inc. filed an 8-K on May 6, 2024, to report the entry into a material definitive agreement and to file financial statements and exhibits. The filing does not detail the specific agreement or financial information within the provided text.

Why It Matters

This filing indicates a significant business event for PNM Resources, Inc., potentially impacting its operations or financial structure.

Risk Assessment

Risk Level: low — The filing is a standard disclosure of a material agreement and financial statements, with no immediate negative indicators.

Key Players & Entities

• PNM Resources, Inc. (company) — Registrant
• May 6, 2024 (date) — Date of Report
• 414 Silver Ave. SW (address) — Principal Executive Offices
• Albuquerque, New Mexico (location) — City and State of Principal Executive Offices
• 001-32462 (other) — Commission File Number

FAQ

Key Financial Figures

• $100 million — time, up to an aggregate sales price of $100 million of its common stock, no par value (the

Filing Documents

• pnm-20240506.htm (8-K) — 36KB
• pnm05062024ex51.htm (EX-5.1) — 17KB
• pnm05062024ex101.htm (EX-10.1) — 574KB
• image_0.jpg (GRAPHIC) — 69KB
• image_1.jpg (GRAPHIC) — 38KB
• 0001108426-24-000046.txt ( ) — 1027KB
• pnm-20240506.xsd (EX-101.SCH) — 2KB
• pnm-20240506_def.xml (EX-101.DEF) — 14KB
• pnm-20240506_lab.xml (EX-101.LAB) — 25KB
• pnm-20240506_pre.xml (EX-101.PRE) — 15KB
• pnm-20240506_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On May 6, 2024, PNM Resources, Inc. (the "Company") entered into a Distribution Agreement (the "Distribution Agreement") with BofA Securities, Inc., Citigroup Global Markets Inc., MUFG Securities Americas Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC (each, a "Sales Agent" and collectively, the "Sales Agents") and Bank of America, N.A., Citibank, N.A., MUFG Securities EMEA plc, Royal Bank of Canada, The Bank of Nova Scotia and Wells Fargo Bank, N.A., as Forward Purchasers (each, a "Forward Purchaser" and collectively, the "Forward Purchasers"), pursuant to which the Company may sell, from time to time, up to an aggregate sales price of $100 million of its common stock, no par value (the "Shares"), through the Sales Agents. Sales of the Shares made pursuant to the Distribution Agreement, if any, may be made in "at the market offerings" as defined in Rule 415 of the Securities Act, including sales made directly on the New York Stock Exchange, the existing trading market for shares of the Company's common stock, or sales made to or through a market maker or through an electronic communications network or by such other methods, including privately negotiated transactions (including block transactions), as the Company and any Sales Agent agree to in writing. Actual sales will depend on a variety of factors to be determined by the Company from time to time, including (among others) market conditions, the trading price of the Company's common stock, capital needs and determinations by the Company of the appropriate sources of funding for the Company. In addition to the issuance and sale of Shares by the Company through the Sales Agents, the Company also may enter into forward stock purchase transactions with the Forward Purchasers as set forth in a separate letter agreement (each, a "Forward Agreement"), a form of which is attached as Exhibit B to the Distribution Agreemen

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 5.1 Opinion of Leonard D. Sanchez, Associate General Counsel to the Company, dated May 6, 2024, relating the legality of the Shares 10.1 Distribution Agreement, dated May 6, 2024, by and among PNM Resources, Inc., BofA Securities, Inc., Citigroup Global Markets Inc., MUFG Securities Americas Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and Wells Fargo Securities, LLC (each as sales agent) and Bank of America, N.A., Citibank, N.A., MUFG Securities EMEA plc, Royal Bank of Canada, The Bank of Nova Scotia and Wells Fargo Bank, N.A. (each as forward purchaser) 23.1 Consent of Leonard D. Sanchez, Associate General Counsel (included in Exhibit 5.1) 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PNM RESOURCES, INC. (Registrant) Date: May 6, 2024 /s/ Gerald R. Bischoff Gerald R. Bischoff Vice President and Corporate Controller (Officer duly authorized to sign this report)

View Full Filing

View this 8-K filing on SEC EDGAR