Short answer
Southern Company (SO) filed an 8-K current report with the SEC on August 4, 2026 reporting Item 8.01 (Other Events), Item EX-99.1 (Exhibit EX-99.1). $2.375B convertible notes priced: $725M Series 2026A at 2.125% due 2027 and $1.65B Series 2026B at 3.50% due 2029.
Southern Company 8-K event analysis
AI summary of each reported item and its exhibits
Item 8.01 · Other Events
- $2.375B convertible notes priced: $725M Series 2026A at 2.125% due 2027 and $1.65B Series 2026B at 3.50% due 2029
- Offering upsized by $225M from previously announced amounts, signaling stronger financing demand
- Initial purchasers received options for up to $108.75M Series 2026A and $247.5M Series 2026B additional notes
- Approximately $369M of higher-coupon 4.50% 2024A convertible notes repurchased, reducing near-term debt and refinancing exposure
Item EX-99.1 · Exhibit EX-99.1
- $2.375B convertible debt priced, including $725M Series 2026A at 2.125% and $1.65B Series 2026B at 3.50%
- Upsized offering signals strong institutional demand but increases Southern’s debt obligations
- Proceeds include $403M to repurchase $369M of higher-coupon 2024A notes, potentially reducing refinancing pressure
- Remaining proceeds target short-term debt repayment and corporate purposes, including subsidiary investment
- Conversion prices of $104.56 and $118.50 create potential future equity dilution above 12.5% and 27.5% premiums
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