Company: SOJE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0000092122-25-000018
Chunk: 1264

Company: SOUTHERN CO
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 1264
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,000 or an integral multiple thereof, for cash at a price equal to 100% of the principal amount of the Series 2024A Convertible Senior Notes and the Series 2023A Convertible Senior Notes to be purchased plus any accrued and unpaid interest.Equity Distribution AgreementIn May 2024, Southern Company established an at-the-market program by entering into an equity distribution agreement pursuant to which it may sell, from time to time, up to an aggregate of 50 million shares of its common stock, including through forward sale contracts. In November 2024, Southern Company entered into separate forward sale contracts with forward purchasers for the sale of:•1,000,000 shares of common stock with an initial forward price of $86.5645 per share and•1,000,000 shares of common stock with an initial forward price of $87.9658 per share.In addition, in December 2024, Southern Company entered into a forward sale contract with a forward purchaser for the sale of 436,614 shares of its common stock, 143,920 of which had been sold by the forward seller as of December 31, 2024, with the remaining 292,694 shares sold subsequent to December 31, 2024, all with an initial forward price of $83.3293 per share.Each initial forward price is subject to adjustment under certain specified circumstances as specified in the forward sale contracts. Southern Company may settle each of the forward transactions in shares, cash, or net shares on or before December 31, 2025. As of December 31, 2024, no shares had been settled under these forward confirmations.

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    Table of Contents                                Index to Financial StatementsCOMBINED NOTES TO FINANCIAL STATEMENTS

Bank Credit ArrangementsAt December 31, 2024, committed credit arrangements with banks were as follows:ExpiresCompany2025202620272029TotalUnusedExpires withinOne Year(in millions)Southern Company parent(a)$150 $— $— $1,850 $2,000 $1,998 $150 Alabama Power(b)— 665 — 700 1,365 1,364 — Georgia Power300 — — 1,750 2,050 2,026 300 Mississippi Power— — 275 — 275 275 — Southern Power(a)(c)— — —