Hunton Andrews Kurth LLP advised sales agents, forward sellers and forward purchasers in connection with the establishment of the at-the-market program (the “ATM”) for The Southern Company (“Southern”) to sell up to an aggregate 50 million shares of its common stock from time to time through either the sales agents or forward sellers, who will, at Southern’s request, borrow shares of Southern’s common stock from third parties.
The Southern Company is the parent company of three traditional electric operating companies, Southern Power Company and Southern Company Gas. The traditional electric operating companies — Alabama Power Company, Georgia Power Company and Mississippi Power Company — are each operating public utility companies providing electric services to retail customers in three Southeastern states of the United States in addition to wholesale customers in the Southeast. Southern Power Company develops, constructs, acquires, owns, operates and manages power generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. Southern Company Gas is an energy services holding company whose primary business is the distribution of natural gas in four states – Illinois, Georgia, Virginia and Tennessee – through the natural gas distribution utilities. Southern Company Gas is also involved in several other businesses that are complementary to the distribution of natural gas.
The Hunton team included Peter K. O’Brien, Steve C. Friend, Patrick C. Jamieson, Monika M. Dziewa and Ryan Metz. Joseph Buonnano and Reuben H. Pearlman provided advice on the forward components.