Hunton Andrews Kurth Advises on The Southern Company’s At-the-Market Program to Sell up to 50 Million Shares of Common Stock

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, including through the forward sellers, who will, at Southern’s request, borrow shares of Southern’s common stock from third parties. This was the Southern’s inaugural establishment of the ATM program with a forward component.

The Southern Company is the parent company of three traditional electric operating companies, Southern Power Company, Southern Company Gas, PowerSecure and other direct and indirect subsidiaries. The traditional electric operating companies—Alabama Power Company, Georgia Power Company and Mississippi Power Company—are vertically integrated utilities providing electric service in three Southeastern states in the United States. Southern Power Company develops, constructs, acquires, owns and manages power generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. Southern Company Gas distributes natural gas through the natural gas distribution utilities in four states and is involved in several other complementary businesses including gas pipeline investments and gas marketing services. PowerSecure Inc. develops distributed energy and resilience solutions and deploys microgrids for commercial, industrial, governmental and utility customers.

The Hunton Andrews Kurth team included Peter K. O’Brien, Steve C. Friend, Patrick C. Jamieson, Michelle G. Chan and Monika M. Dziewa. Joseph Buonnano and Reuben H. Pearlman provided advice on the forward component.