trending Market Intelligence /marketintelligence/en/news-insights/trending/1JFucxiRrdZl9vstQLdrHA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Southern prices $900M common offering

Q2: U.S. Solar and Wind Power by the Numbers

Essential Energy Insights - September 17, 2020

Essential Energy Insights September 2020

Rate case activity slips, COVID-19 proceedings remain at the forefront in August

Southern prices $900M common offering

Southern Co.has priced a $900 million publicoffering of its common shares that will help fund the company'sacquisition of

Underwriters are selling 18.3 million Southern shares fromtime to time, in one or more transactions at market prices prevailing at thetime of sale, according to a May 5 company statement. On the same date, thelast reported sale price of Southern's common stock was $50.62 per share.

The offering is expected to close May 11.

Southern also plans to use the net proceeds for othergeneral corporate purposes, which may include investment in subsidiaries orpartial payment of outstanding short-term indebtedness.

Citigroup and J.P. Morgan are acting as joint book-runningmanagers of the offering.