Business
Southern Company announces pricing of equity units
Southern Company (NYSE: SO) today announced it has priced its offering of 35 million 2025 Series A Equity Units. Each 2025 Series A Equity Unit will be issued in a stated amount of $50 ($1.75 billion aggregate stated amount) and will consist of a contract to purchase Southern Company common stock in the future, a 1/40 undivided beneficial ownership interest in Southern Company's Series 2025B Remarketable Senior Notes due 2030 having a principal amount of $1,000 and a 1/40 undivided beneficial ow
About this update from Southern Company (the)
[{"type":"text","content":"ATLANTA, Nov. 3, 2025 /PRNewswire/ -- Southern Company (NYSE: SO) today announced it has priced its offering of 35 million 2025 Series A Equity Units. Each 2025 Series A Equity Unit will be issued in a stated amount of $50 ($1.75 billion aggregate stated amount) and will consist of a contract to purchase Southern Company common stock in the future, a 1/40 undivided beneficial ownership interest in Southern Company's Series 2025B Remarketable Senior Notes due 2030 having a principal amount of $1,000 and a 1/40 undivided beneficial ownership interest in Southern Company's Series 2025C Remarketable Senior Notes due 2033 having a principal amount of $1,000. Each of the remarketable senior notes is subject to remarketing to commence no earlier than June 13, 2028. The offering is expected to close on November 6, 2025, subject to customary closing conditions.","length":877,"tagName":"p"},{"type":"text","content":"Total annual distributions on the 2025 Series A Equity Units will be at the rate of 7.125 percent, consisting of interest on the Series 2025 Remarketable Senior Notes due 2030, interest on the Series 2025B Remarketable Senior Notes due 2033 and payments under the related stock purchase contracts. The reference price for the 2025 Series A Equity Units is $93.15 per share. The threshold appreciation price for the 2025 Series A Equity Units is $116.44 per share, which represents a premium of approximately 25.0 percent over the reference price. Under the purchase contract, holders are required to purchase a variable number of shares of Southern Company common stock no later than December 15, 2028.","length":702,"tagName":"p"},{"type":"text","content":"Southern Company has granted the underwriters an option to purchase during the 13-day period beginning on, and including, the initial issuance date of the 2025 Series A Equity Units up to 5 million additional 2025 Series A Equity Units (an additional aggregate stated amount of $250 million), solely for the purpose of covering over-allotments.","length":344,"tagName":"p"},{"type":"text","content":"Southern Company estimates that the net proceeds from this offering will be approximately $1.719 billion (or $1.965 billion if the over-allotment option is exercised in full), after deducting the underwriting discounts and commissions but before deducting other offering expenses...