Core Viewpoint - Southern Company has announced the pricing of $1.45 billion in Convertible Senior Notes, reflecting an increase of $200 million from the previously announced offering size, with an expected closing date of May 23, 2025 [1][4]. Group 1: Offering Details - The Convertible Notes have a 3.25% interest rate, payable semiannually, and will mature on June 15, 2028 [2][3]. - The initial conversion rate is set at 8.8077 shares per $1,000 principal amount, equating to a conversion price of approximately $113.54 per share, representing a 25% premium over the last reported sale price [2][3]. - An option for initial purchasers to buy an additional $200 million in Convertible Notes is available within 13 days of issuance [1]. Group 2: Use of Proceeds - Southern Company estimates net proceeds of approximately $1.44 billion, or $1.63 billion if the additional option is fully exercised, which will primarily be used to repurchase existing Convertible Notes and for general corporate purposes [4]. - Approximately $1.25 billion of the net proceeds will be allocated to repurchase about $781.6 million of Series 2023A Convertible Notes and $328.1 million of Series 2024A Convertible Notes [4]. Group 3: Repurchase Transactions - The company has entered into privately negotiated transactions to repurchase portions of the Existing Convertible Notes, with terms dependent on various market factors [5]. - There is an expectation that holders of the Existing Convertible Notes may engage in derivative transactions or stock trades to hedge their exposure related to these repurchase transactions [6][7].

The Southern Company (SO) , via one of its affiliates, Georgia Power Company, recently announced a proposed settlement with the Georgia Public Service Commission (PSC) Public Interest Advocacy Staff. The agreement recommends extending the current alternate rate plan through Dec. 31, 2028, maintaining rate stability for Georgia Power customers for three additional years.This settlement is still pending approval from the Georgia PSC, with a final decision expected by July 1, 2025. If rejected, Georgia Power m ...

Core Viewpoint - Southern Company announced a private placement offering of $1.25 billion in convertible senior notes due June 15, 2028, with an option for initial purchasers to buy an additional $200 million [1][2]. Group 1: Offering Details - The convertible notes will be senior, unsecured obligations of Southern Company, with interest paid semiannually and maturity on June 15, 2028 [2]. - The final terms, including the initial conversion price and interest rate, will be determined at the time of pricing [2]. Group 2: Conversion Terms - Prior to March 15, 2028, the notes will be convertible only upon certain events and during specific periods; after that, they can be converted at any time until two trading days before maturity [3]. - Upon conversion, Southern Company will pay cash up to the principal amount and may pay the remainder in cash, shares, or a combination [3]. Group 3: Use of Proceeds - A portion of the net proceeds will be used to repurchase existing convertible senior notes due December 15, 2025, and June 15, 2027, through negotiated transactions [4]. - Remaining proceeds will be used to repay commercial paper borrowings and for general corporate purposes, including investments in subsidiaries [4]. Group 4: Repurchase Transactions - Southern Company plans to negotiate terms for repurchasing existing convertible notes with a limited number of holders, influenced by market conditions [5]. - The company may also repurchase outstanding existing convertible notes after the offering is completed [5]. Group 5: Market Impact - The repurchase of existing convertible notes may lead holders to engage in derivative transactions or stock trades to hedge their exposure, potentially affecting the market price of Southern Company's common stock [6]. Group 6: Company Overview - Southern Company is a leading energy provider serving 9 million customers across the Southeast, with operations in electric and natural gas distribution, competitive generation, and telecommunications [9].

Core Insights - Norfolk Southern Corporation will participate in the Wolfe Research 18th Annual Global Transportation & Industrials Conference on May 20, 2025, at 11 a.m. ET [1] - The presentation will be available on the company's Investors page on its website [1] Company Overview - Norfolk Southern has been operational since 1827, focusing on freight transportation that supports the U.S. economy [2] - The company is committed to sustainability, helping customers avoid approximately 15 million tons of carbon emissions annually by utilizing rail transport [2] - Norfolk Southern handles over 7 million carloads each year, covering a wide range of goods from agriculture to consumer products [2] - It leads in automotive traffic among Class I Railroads and boasts the most extensive intermodal network in the eastern U.S. [2] - The company serves a significant portion of the U.S. population and manufacturing base, with connections to major container ports along the Atlantic coast, Gulf Coast, and Great Lakes [2]

Group 1 - Southern Company (SO.US) experienced a decline of 0.77% following a downgrade to "Underweight" by KeyBanc analyst Sophie Karp, with a target price set at $78, indicating a significant shift in institutional investor risk appetite [1] - Karp highlighted a valuation bubble for Southern Company, noting that its current stock price is 13% above the industry average, and there is a disconnect between optimistic growth expectations and actual performance [1] - KeyBanc also downgraded Exelon (EXC.US) and Edison International (ED.US) to "Underweight," suggesting that these utility companies, previously benefiting from safe-haven inflows, may see their defensive attributes diminish as market risk appetite improves [1] Group 2 - Ameren (AEE.US) and Entergy (ETR.US) were upgraded to "Overweight," with target prices set at $103 and $85 respectively, due to their potential for infrastructure upgrades in the Midwest, particularly driven by increased electricity demand from AI data center construction [2] - Xcel Energy (XEL.US) and Wisconsin Energy (WEC.US) also received "Overweight" ratings, supporting the trend of favoring companies involved in AI infrastructure [2] - The rating changes reflect a restructuring of the valuation framework for the utility sector, as expectations of Federal Reserve interest rate cuts are driving funds towards risk assets, leading to a structural re-evaluation of previously favored stable income securities [2]

Core Viewpoint - Southern Cross Gold Consolidated Ltd has successfully closed the second tranche of its private placement, raising approximately C$29.87 million to support the development of the Sunday Creek Gold-Antimony Project in Australia [1][4]. Group 1: Financial Details - The second tranche involved the issuance of 6,636,918 common shares, with 550,000 converted to Chess Depositary Interests (CDIs), at a price of C$4.50 (A$5.10) each [2][10]. - The total gross proceeds from the second tranche amounted to C$29,866,131 [2][7]. - A third tranche is anticipated to close around May 16, 2025, with expected gross proceeds of up to approximately C$24.44 million [4]. Group 2: Project Development - The net proceeds from the placement are earmarked for key milestones in the Sunday Creek project, including C$53 million for drilling to establish an Inferred Resource by Q1 2027, C$27 million for decline development, C$4 million for a Preliminary Economic Assessment, and C$59 million for exploration and working capital [11]. - The Sunday Creek project is located 60 km north of Melbourne and is recognized as one of the significant gold and antimony discoveries in the Western world, with a mineralization structure extending over 12 km [13][14]. Group 3: Strategic Importance - The dual-metal profile of the Sunday Creek project, with antimony contributing 20% of the in-situ value alongside gold, positions the company strategically, especially in light of China's export restrictions on antimony [14]. - Southern Cross Gold's inclusion in the US Defense Industrial Base Consortium and legislative changes related to AUKUS enhance its potential as a key supplier of antimony in the West [14].

Core Insights - ScaleReady, in collaboration with Wilson Wolf Manufacturing, Bio-Techne Corporation, and CellReady, has awarded three G-Rex Grants totaling $1,025,000 to faculty members at USC and CHLA to support cell and gene therapy initiatives [1][8] Grant Details - Dr. Mohamed Abou-el-Enein received a $300,000 G-Rex Grant to develop a non-viral manufacturing platform for CAR-T cell therapies, building on initial funding from the CIRM [2] - Dr. Saul Priceman was awarded a $275,000 G-Rex Grant to advance a CAR-T cell therapy for metastatic solid cancers into Phase 1/2 clinical trials, addressing manufacturing bottlenecks [4] - Dr. Shahab Asgharzadeh received a $250,000 G-Rex Grant for preclinical development of a CAR-T cell therapy targeting recurrent solid tumors in children and young adults [5] - Dr. Preet Chaudhary was granted $200,000 for the development and IND submission of a novel Synthetic Immune Receptor engineered T cell therapy for solid tumors [6] G-Rex Platform Significance - The G-Rex system is recognized for its efficiency, scalability, and cost-effectiveness in CAR-T manufacturing, enabling high-yield cell expansion and robust scale-up [3] - The G-Rex Grant Program has awarded nearly 200 grants and is extending with millions in additional funding, providing recipients access to a consortium of partners for support in CGT development [8][10] Industry Impact - The G-Rex manufacturing platform is utilized by over 800 organizations and is involved in approximately 50% of CGT clinical trials, contributing to the commercialization of CGT drugs [10] - ScaleReady aims to enhance CGT drug product development and manufacturing, saving time and costs for entities in the CGT field [10]

Core Insights - The Alkaline Water Company Inc. has announced its return to the Los Angeles and Southern California market through a new distribution partnership with Santa Monica Distributors Corp [1][3] - The partnership aims to distribute WTER's flagship products, Alkaline88 one-gallon and 1.5-liter bottles, across various retail outlets in Southern California [2][4] - The distribution agreement is part of WTER's strategy to expand its market presence and enhance accessibility to its premium alkaline water products [4][5] Company Overview - The Alkaline Water Company Inc. is a leader in the premium beverage industry, focusing on superior hydration solutions with its flagship Alkaline88 brand [5][6] - Alkaline88 is known for its clean ingredient profile, created through a proprietary electrolysis process that infuses purified water with Himalayan rock salt, trace minerals, and electrolytes, achieving a balanced pH of 8.8 [4][5] - The company is led by co-founder Ricky Wright as CEO, implementing strategies for operational improvements, market expansion, and sustainable profitable growth [5][6] Distribution Partner - Santa Monica Distributors Corp is recognized as a top wholesale distribution company in the Los Angeles area, servicing a wide range of businesses [3][6] - SMDC's extensive distribution network and reputation for quality products make it an ideal partner for WTER's expansion strategy in Southern California [3][4]

Core Viewpoint - Georgia Power is advancing the construction of new battery energy storage systems (BESS) across multiple counties in Georgia to enhance the reliability and resiliency of the electric grid as the state grows [1][4]. Group 1: Project Details - Construction is underway for 765 megawatts (MW) of new BESS projects in Bibb, Lowndes, Floyd, and Cherokee counties, authorized by the Georgia Public Service Commission [1]. - The Hammond Battery Facility, a 57.5 MW BESS, will store excess energy for use during peak demand periods and is expected to be operational by November 2026 [2][6]. - The McGrau Ford Battery Facility in Cherokee County will consist of two phases totaling 530 MW, with projected operation dates in October 2026 and September 2026 [3][6]. Group 2: Benefits and Strategic Importance - BESS projects support the reliability and resilience of the electric system while enhancing the value of renewable energy resources like solar [4]. - The Robins BESS (128 MW) and Moody BESS (49.5 MW) projects are strategically co-located with existing solar facilities, allowing for efficient use of infrastructure and expedited deployment [5][6]. - The integration of BESS is crucial for accommodating the variability of renewable energy sources and meeting capacity needs [5]. Group 3: Future Developments - Georgia Power plans to procure an additional 1,000 MW of BESS through competitive bidding processes in the coming years [7]. - A 13 MW demonstration project is in development at Fort Stewart Army Installation, showcasing the company's commitment to expanding battery storage capabilities [7]. - The 2025 Integrated Resource Plan includes enhancements to customer-sited generation resources, aiming to secure an initial 50 MW of capacity through a new Customer-Sited Solar Plus Storage Pilot [8].

Company Overview - Southern Cross Gold Consolidated Ltd (TSXV: SXGC) (ASX: SX2) has successfully closed the first tranche of its private placement, raising C$88,799,220 through the issuance of 19,733,160 common shares and Chess Depositary Interests (CDIs) at a price of C$4.50 (A$5.10) per share [1][2][4] Placement Details - The first tranche of the placement involved the issuance of 16,171,050 CDIs and 3,562,110 common shares, with gross proceeds of A$82,472,355 and C$16,029,495 respectively [5][8] - A second tranche is anticipated to close around May 14, 2025, aiming for additional gross proceeds of approximately C$54,308,502 [4] Use of Proceeds - The net proceeds from the placement are earmarked for key milestones in the development of the Sunday Creek Gold-Antimony Project, including: - C$53 million for drilling to establish an Inferred Resource by Q1 2027 - C$27 million for decline development to enhance access to mineralization - C$4 million for a Preliminary Economic Assessment - C$59 million for exploration target expansion and working capital over three years [9] Project Significance - The Sunday Creek project, located 60 km north of Melbourne, Australia, is recognized as a significant gold and antimony discovery, with a mineralization structure extending over 12 km [13][14] - The dual-metal profile of the project, with antimony contributing 20% of the in-situ value, positions it strategically in light of China's export restrictions on antimony, a critical metal for defense and semiconductor applications [14] Insider Participation - Mr. Darren Morcombe, an insider of the company, subscribed for 980,392 CDIs under the first tranche, increasing his total holdings to 28,991,112 common shares, representing approximately 11.91% of the outstanding shares [11][12]