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Southern Co. (SO) Stock Down in After-Hours Trading, Announces Public Offering

NEW YORK (TheStreet) -- Shares of Southern Co. (SO) were falling in after-hours trading on Tuesday after the company announced a public offering of 32.5 million shares of common stock.

Through the offering, Southern expects to raise gross proceeds of about $1.6 billion, according to a company statement.

Barclays (BCS), Goldman Sachs (GS), Morgan Stanley (MS) and Wells Fargo (WFC) are acting as joint book-running managers for the offering.

Southern plans to use the proceeds from the sale to fund a portion of the...