Southern Company announces pricing of equity units
Key Highlights
- ➤Southern Company priced 35 million equity units totaling $1.75 billion
- ➤Annual distributions on equity units set at 8.625 percent
- ➤Net proceeds estimated at $1.724 billion, or $1.970 billion with over-allotment
- ➤Company plans to use proceeds for debt repayment and general corporate purposes
- ➤Holders must purchase variable Southern Company shares by December 15, 2029
Southern Company announces pricing of equity units PR Newswire
ATLANTA, Nov. 12, 2026 /PRNewswire/ -- Southern Company (NYSE: SO) today announced it has priced its offering of 35 million 2026 Series A Equity Units. Each 2026 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 2026C Remarketable Senior Notes due 2031 having a principal amount of $1,000 and a 1/40 undivided beneficial ownership interest in Southern Company's Series 2026D Remarketable Senior Notes due 2034 having a principal amount of $1,000. Each of the remarketable senior notes is subject to remarketing to commence no earlier than June 13, 2029. The offering is expected to close on November 17, 2026, subject to customary closing conditions.
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