The Firm represented the underwriters, led by Citigroup Global Markets Inc. and BofA Securities, Inc., in an SEC-registered offering of 6,181,250 shares of common stock of PNM Resources, Inc. (“PNMR”) (including 806,250 shares pursuant to the exercise of the underwriters’ option) and Citibank, N.A. and Bank of America, N.A., as forward purchasers, in the execution of forward sale agreements relating to an equal number of shares. Under the forward sale agreements, the forward purchasers (or their respective affiliates and/or agents) borrowed an aggregate of 6,181,250 shares of PNMR’s common stock from third parties and sold those shares to the underwriters.
PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M. Through its regulated utilities, Public Service Company of New Mexico and Texas-New Mexico Power, PNM Resources has approximately 2,701 megawatts of generation capacity and provides electricity to more than 785,000 homes and businesses in New Mexico and Texas.
The Simpson Thacher team included Mark Brod, Della Fok and Nelson Wang (Capital Markets); Jonathan Lindabury and Caitlin Wood (Derivatives); Brian Chisling, Amy Beller and Mark Skerry (Regulatory); Drew Purcell (Tax); Michael Isby (Environmental) and Jennie Getsin (FINRA and Blue Sky).