Company: SOJE
Filing Date: 2025-11-04
Form Type: 424B2
Source: 0000092122-25-000092
Chunk: 57

Company: SOUTHERN CO
Filing Date: 2025-11-04
Form: 424B2
Chunk 57
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Repurchases of the Existing Convertible Senior Notes, and related transactions that will happen concurrently with, or shortly after, the pricing of the Equity Units, are likely to affect the value of the Equity Units and the Common Stock.

The Company intends to use a portion of the net proceeds of this offering to repurchase a portion of the outstanding Existing Convertible Senior Notes in privately negotiated transactions. The Company may also repurchase Existing Convertible Senior Notes following the completion of this offering. Any repurchases of the Existing Convertible Senior Notes are likely to affect the market price of the Common Stock and the reference price of the stock purchase contract component of the Equity Units. The Company expects that holders of the Existing Convertible Senior Notes that sell their Existing Convertible Senior Notes to the Company in any note repurchase transaction may enter into or unwind various derivatives with respect to the Common Stock and/or purchase or sell shares of the Common Stock in the market to hedge their exposure in connection with these transactions. In particular, the Company expects that many holders of the Existing Convertible Senior Notes employ a convertible arbitrage strategy with respect to the Existing Convertible Senior Notes and have a short position with respect to the Common Stock that they would close, through purchases of the Common Stock and/or the entry into or unwind of economically equivalent derivatives transactions with respect to the Common Stock, in connection with the Company’s repurchase of their Existing Convertible Senior Notes for cash. This activity could increase (or reduce the size of any decrease in) the market price of the Common Stock or the Equity Units at that time and could result in a higher effective reference price for the stock purchase contract component of the Equity Units. In addition, the market price of the Common Stock is likely to be affected by short sales of the Common Stock and/or the entry into economically equivalent derivatives transactions with respect to the Common Stock by investors in the Equity Units. The Company cannot predict the magnitude of such market activity or the overall effect it will have on the price of the Equity Units offered hereby or the Common Stock or the corresponding effect on the reference price of the stock purchase contract component of the Equity Units.

<div align='center'>S-34</div>

### USE OF PROCEEDS
The Company estimates that the net proceeds from the sale of the Equity Units in this offering will be $1,719,375,000 ($1,965,000,000 if the underwriters exercise their option to purchase additional Corporate Units in full), after deducting the underwriting discounts and commissions but before deducting other offering expenses.