Southern Co. (SO) Announces 32.5M Share Common Stock Offering
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Southern Company (NYSE: SO) announced that it has commenced an underwritten public offering of 32.5 million shares of its common stock, through which it expects to raise gross proceeds of approximately $1.6 billion. Barclays, Goldman, Sachs & Co., Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers of this offering. The net proceeds from the offering will be used to fund a portion of the purchase price for the pending purchase of a 50% equity interest in Southern Natural Gas and for other general corporate purposes, which may include the investment by the company in its subsidiaries, including Southern Power. The offering is expected to close on August 19, subject to customary closing conditions.
The company has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for this offering. Before investing, interested parties should read the prospectus in that registration statement and other documents the company has filed with the SEC for more complete information about the company and this offering. You may get these documents for free by visiting EDGAR on the SEC's website at www.sec.gov. Alternatively, the underwriters will arrange to send you the prospectus if you request it by contacting Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by email at email@example.com or by telephone at (888) 603-5847; Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526, by facsimile at (212) 902-9316 or by email at prospectus‑firstname.lastname@example.org; Morgan Stanley, Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014; or Wells Fargo Securities, Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, by telephone at (800) 326-5897 or by email at email@example.com.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of, or any solicitation of an offer to buy, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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Create E-mail Alert Related CategoriesCorporate News, Equity Offerings
Related EntitiesMorgan Stanley, Barclays, Wells Fargo, Definitive Agreement
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