PR Newswire·Nov 12, 2026, 6:39 AM ET

Southern Company announces equity units offering

Southern Company plans to sell 35 million equity units in a public offering with an aggregate stated amount of $1.75 billion.
Each equity unit consists of a future purchase contract for common stock and two 1/40 beneficial ownership interests in remarketable senior notes.
Underwriters have an option to purchase an additional 5 million equity units for over-allotment purposes.
Net proceeds will be used to repurchase a portion of the Series 2024A 4.50% Convertible Senior Notes due June 15, 2027, via individually negotiated transactions.
Remaining proceeds will repay short-term indebtedness and fund general corporate purposes including subsidiary investments.
Note repurchase terms will be negotiated individually based on market prices of common stock and existing convertible notes.
BofA Securities and Barclays are serving as joint book-running managers for the offering.
The offering is conducted under an effective shelf registration statement filed with the SEC.
Southern Company serves 9 million customers across the Southeast with operations in electric, natural gas, generation, fiber optics, and telecommunications.
The release includes forward-looking statements subject to risks such as economic conditions, interest rates, credit ratings, and catastrophic events.