ATLANTA, Aug. 16, 2022 /PRNewswire/ — Southern Firm at present introduced that it has been notified of an unsolicited “mini-tender” provide dated August 12, 2022, made by TRC Capital Funding Company (“TRC”), a non-public Canadian funding firm, to buy as much as 2,000,000 shares of Southern Firm’s frequent inventory. TRC’s unsolicited “mini-tender” provide worth of $74.88 per share is roughly 4.14% beneath the $78.12 per share closing worth of Southern Firm’s frequent inventory on August 12, 2022, the final buying and selling day previous to the date of the provide. Southern Firm is by no means affiliated with TRC, the provide, or the provide documentation.

Southern Firm recommends towards stockholders tendering shares in response to this unsolicited provide, for the explanations described herein.

TRC has made many comparable unsolicited mini-tender gives for the shares of different public corporations. Mini-tender gives search to accumulate lower than 5 p.c of an organization’s shares excellent. Consequently, they’ll keep away from many disclosure and procedural necessities of U.S. Securities and Trade Fee (SEC) guidelines that apply to gives for greater than 5 p.c of an organization’s shares excellent.

The SEC has cautioned buyers about mini-tender gives, stating that mini-tender gives “have been more and more used to catch buyers off guard,” and that buyers “could find yourself promoting their securities at below-market costs.” The SEC’s steerage to buyers on mini-tender gives is out there at https://www.sec.gov/reportspubs/investor-publications/investorpubsminitendhtm.html. Stockholders are urged to seek the advice of with their very own brokers or monetary advisors.

Stockholders who’ve already tendered their shares could withdraw them by offering, previous to the expiration of the provide, the written discover described within the TRC providing paperwork. In line with the provide paperwork, the provide is presently scheduled to run out at 12:01 a.m., New York Metropolis time, on September 14, 2022, however TRC could lengthen the provide at its discretion.

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Southern Firm requests {that a} copy of this information launch be included with all distributions of supplies associated to TRC’s provide for shares of Southern Firm frequent inventory.

About Southern Firm
Southern Firm (NYSE: SO) is a number one power firm serving 9 million clients by way of its subsidiaries. The corporate offers clear, secure, dependable and inexpensive power by way of electrical working corporations in three states, pure gasoline distribution corporations in 4 states, a aggressive era firm serving wholesale clients throughout America, a number one distributed power infrastructure firm, a fiber optics community and telecommunications companies. Southern Firm manufacturers are recognized for wonderful customer support, excessive reliability and inexpensive costs beneath the nationwide common. For greater than a century, we’ve been constructing the way forward for power and creating the complete portfolio of power assets, together with carbon-free nuclear, superior carbon seize applied sciences, pure gasoline, renewables, power effectivity and storage know-how. By an industry-leading dedication to innovation and a low-carbon future, Southern Firm and its subsidiaries develop the custom-made power options our clients and communities require to drive development and prosperity. Our uncompromising values guarantee we put the wants of these we serve on the heart of every little thing we do and govern our enterprise to the advantage of our world. Our company tradition and hiring practices have been acknowledged nationally by the U.S. Division of Protection, G.I. Jobs journal, DiversityInc, Black Enterprise, Fortune’s “World’s Most Admired Firms” record, Forbes and the Ladies’s Selection Award. To be taught extra, go to www.southerncompany.com.

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SOURCE Southern Firm