On August 6, 2026, The Southern Company issued $833,750,000 aggregate principal amount of Series 2026A 2.125% Convertible Senior Notes due December 15, 2027, and $1,897,500,000 aggregate principal amount of Series 2026B 3.50% Convertible Senior Notes due September 15, 2029. The issuance included the exercise of over-allotment options totaling $356,250,000 in combined principal amounts. The Series 2026A notes carry an initial conversion rate of 9.5641 shares per $1,000 principal (approx. $104.56 conversion price), while the Series 2026B notes have an initial conversion rate of 8.4389 shares per $1,000 principal (approx. $118.50 conversion price). Settlement upon conversion may involve cash, stock, or a combination at the Company's election. The Southern Company operates in the electric utility industry, providing electricity and natural gas services to customers primarily in the southeastern United States.

On August 3, 2026, The Southern Company priced $725 million of Series 2026A 2.125% Convertible Senior Notes due December 15, 2027 and $1.65 billion of Series 2026B 3.50% Convertible Senior Notes due September 15, 2029 in private placements to qualified institutional buyers. The offerings were upsized by $75 million and $150 million respectively over initial announcements, with options granted for an additional $356.25 million in principal. Contemporaneously, the company repurchased approximately $369 million of its Series 2024A Convertible Notes through privately negotiated transactions. Net proceeds are intended to fund the note repurchases, repay short-term debt, and support general corporate purposes. The Southern Company is a leading energy provider serving 9 million customers across the Southeast with electric, natural gas, generation, and telecommunications operations.