Southern Company Announces $1.75 Billion Equity Units Offering to Repurchase Convertible Notes

09:01 AM EST, 11/12/2026 (MT Newswires) -- Southern Company (SO) said Thursday that it plans to sell 35 million equity units worth $1.75 billion in a public offering, with an option for underwriters to purchase an additional 5 million units worth $250 million. Each $50 equity unit will consist of a contract to purchase Southern Company common stock in the future and two 1/40 beneficial ownership interests in remarketable senior notes, each with a principal amount of $1,000, the company said. The utility intends to use proceeds to repurchase some of its 4.50% convertible senior notes due June 2027, repay short-term debt and fund general corporate purposes, it said. The company cautioned that there is no assurance it will repurchase any of the existing convertible notes or how much it may buy back.