Southern Co. (SO) Prices 32.5M Share Stock Offering for Proceeds of ~$1.6B

August 17, 2016 5:59 AM EDT

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Southern Company (NYSE: SO) announced that it has priced its previously-announced underwritten public offering of 32.5 million shares of its common stock for 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 last reported sale price of the company's common stock on August 16, 2016 was $50.96 per share. The underwriters are offering for sale the shares of common stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by the underwriters and subject to their right to reject any order in whole or in part.

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 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 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‑; 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

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