Every 424B that Southern (SO) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow SO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full SO filings page.
The Southern Company is offering up to 50,000,000 shares of its common stock through an equity distribution agreement that permits sales through sales agents and related forward sale structures, including initially priced forward transactions and collared forward transactions. The offering contemplates “at‑the‑market” sales and forward arrangements under which the Company may not initially receive proceeds when borrowed shares are sold by forward sellers; proceeds to the Company are expected upon physical settlement of certain forward transactions or on settlement dates specified in applicable forward sale agreements. The Company will pay sales commissions up to 1.00% and estimates offering expenses of approximately $740,000. The prospectus supplement discloses settlement mechanics, adjustment features (including dividend and interest‑rate related adjustments), acceleration and termination rights for forward purchasers, and potential dilution upon physical or net share settlement.
The Southern Company is offering $1,300,000,000 of Series 2026A 6.00% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due April 1, 2058. The notes pay 6.00% interest through April 1, 2033 and reset thereafter to the Five-Year Treasury Rate plus 1.993% with a 6.00% floor. Interest is semi-annual beginning October 1, 2026. The company may defer interest payments for up to 10 consecutive years (if no Event of Default exists), and the notes rank junior to all Senior Indebtedness. Net proceeds, before expenses, are approximately $1,287,000,000 and will be used to repay specified credit and commercial paper borrowings and for general corporate purposes. Delivery is expected on or about March 19, 2026.
The Southern Company is offering Series 2026A % Fixed-to-Fixed Reset Rate Junior Subordinated Notes due April 1, 2058, subject to completion. The notes bear an initial fixed rate through April 1, 2033 and thereafter reset on five‑year anniversaries to the Five‑Year Treasury Rate plus a spread, with a stated floor equal to the initial rate.
The notes are junior, unsecured and structurally subordinated to the Company’s senior indebtedness. The Company may defer interest for one or more periods up to 10 consecutive years, may redeem the notes under specified tax, rating or other events, and does not intend to list the notes. Net proceeds are to repay an uncommitted credit facility of $100,000,000 and commercial paper that aggregated $962,000,000 as of March 13, 2026, with any remainder for general corporate purposes.
The Southern Company launched a primary offering of 35,000,000 2025 Series A Equity Units, each with a $50 stated amount, initially issued as Corporate Units. The underwriters have an option to buy up to 5,000,000 additional Corporate Units. The Company intends to list the Corporate Units on the NYSE under SOMN, subject to approval.
Each Corporate Unit includes a stock purchase contract and 1/40 interests in two series of Remarketable Senior Notes (due 2030 and 2033). Holders will purchase common stock on December 15, 2028 under the contract, with quarterly contract adjustment payments and RSN interest prior to settlement. The RSNs are expected to be remarketed in 2028, after which interest terms reset as described.
The Company plans to use proceeds to repurchase portions of its Series 2023A 3.875% Convertible Senior Notes and Series 2024A 4.50% Convertible Senior Notes, repay $407 million of short‑term debt as of October 31, 2025, address remaining 2023A notes at maturity, and fund a proposed par redemption of $1.25 billion of Series 2020B Junior Subordinated Notes, with any remainder for general corporate purposes.