Company: SOJE
Filing Date: 2025-11-06
Form Type: 8-K
Source: 0000092122-25-000094
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Company: SOUTHERN CO
Filing Date: 2025-11-06
Form: 8-K
Item: Item 8.01
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Item 8.01.      Other Events.  

On November 3, 2025, The Southern Company (the “ Company”) entered into an underwriting agreement (the “ Underwriting Agreement”) with the underwriters named in Schedule I thereto (the “ Underwriters”), for whom BofA Securities, Inc., J. P. Morgan Securities LLC and Mizuho Securities USA LLC are acting as representatives, covering the issuance and sale of 35,000,000 equity units, initially in the form of corporate units (the “ Corporate Units”). Pursuant to the Underwriting Agreement, the Company also granted the Underwriters an option to purchase up to an additional 5,000,000 Corporate Units to cover over-allotments. On November 6, 2025, the Company completed its offering of the 40,000,000 Corporate Units, including the exercise in full of the Underwriters’ over-allotment option.

Each Corporate Unit has a stated amount of $50 and is comprised of (i) a purchase contract (each, a “stock purchase contract”) which will obligate the holder to purchase from the Company, no later than December 15, 2028, a certain number of shares of the Company’s common stock, $5 par value (the “ Common Stock”), for $50 in cash; (ii) a 1/40 undivided beneficial ownership interest in $1,000 principal amount of the Company’s Series 2025B Remarketable Senior Notes due 2030 (the “ Series 2025B RSNs”); and (iii) a 1/40 undivided beneficial ownership interest in $1,000 principal amount of the Company’s Series 2025C Remarketable Senior Notes due 2033 (the “ Series 2025C RSNs” and, together with the Series 2025B RSNs, the “ RSNs”). Total annual distributions on the Corporate Units will be at the rate of 7.125% of the stated amount, consisting of quarterly contract adjustment payments under the stock purchase contracts in the amount of 2.975% per year and interest on the RSNs in the amount of 4.15% per year.

The RSNs were issued pursuant to the Senior Note Indenture, dated as of January 1, 2007 (the “ Senior Note Indenture”), between the Company and Computershare Trust Company, N. A., as successor trustee, as amended