08:00 AM EST, 11/03/2025 (MT Newswires) -- Southern (SO) said Monday it plans a public offering of 35 million equity units, with each unit to be issued in a stated amount of $50.

The company expects to grant an overallotment option to the underwriters to purchase 5 million additional units.

Each unit will consist of a contract to purchase the company's common shares in the future and two 1/40 undivided beneficial ownership interests in remarketable senior notes.

Southern said it plans to use part of the net proceeds to repurchase a portion of certain series of convertible notes, among other things.

The company's shares were down 1% in recent premarket activity.