Core Viewpoint - Southern Company plans to sell 35 million equity units in a public offering, aiming to raise approximately $1.75 billion, with an additional option for underwriters to purchase 5 million more units for $250 million to cover over-allotments [1][2]. Group 1: Offering Details - Each equity unit will be priced at $50 and will include a contract to purchase common stock and beneficial ownership interests in remarketable senior notes [1]. - The offering will be conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission [5]. Group 2: Use of Proceeds - A portion of the net proceeds will be used to repurchase Series 2023A and Series 2024A Convertible Senior Notes through individually negotiated transactions [2][3]. - Remaining proceeds will be allocated to repay short-term debt, redeem outstanding Convertible Notes, and for general corporate purposes, including investments in subsidiaries [2]. Group 3: Market Impact and Strategy - The company anticipates that the repurchase of Existing Convertible Notes may lead to market activities that could influence the stock price, as holders may engage in derivative transactions or stock purchases to hedge their positions [3]. - Southern Company expects to negotiate terms for the note repurchase based on market conditions at the time of the transactions [3]. Group 4: Company Overview - Southern Company serves approximately 9 million customers across the Southeast and operates various energy-related businesses, including electric and natural gas distribution [6].