Company: SOJE
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0000092122-25-000088
Chunk: 37

Company: SOUTHERN CO
Filing Date: 2025-11-03
Form: 424B5
Chunk 37
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 general corporate purposes, including investments in the Company’s subsidiaries.

This Prospectus Supplement does not constitute a notice of redemption with respect to the Series 2020B Junior Subordinated Notes. Any such notice of redemption will only be delivered in accordance with the provisions of the indenture for the Series 2020B Junior Subordinated Notes.

What are the Existing Convertible Senior Notes repurchase transactions?

Contemporaneously with the pricing of the Equity Units in this offering, the Company expects to enter into one or more separate and privately negotiated transactions with a limited number of holders of the Existing Convertible Senior Notes to repurchase $ aggregate principal amount of the Series 2023A Convertible Senior Notes and $ aggregate principal amount of the Series 2024A Convertible Senior Notes on terms negotiated with each such holder (each, a “note repurchase”). The terms of each note repurchase transaction are anticipated to be individually negotiated with each such holder of the Existing Convertible Senior Notes and will depend on several factors, including the market price of the Common Stock and the trading prices of the applicable Existing Convertible Senior Notes at the time of each such note repurchase. The Company may also repurchase outstanding Existing Convertible Senior Notes following completion of this offering. No assurance can be given as to how much, if any, of these Existing Convertible Senior Notes will be repurchased or the terms on which they will be repurchased.

<div align='center'>S-18</div>

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. See “Risk Factors—Risks Related to the Equity Units—