Filed Pursuant to Rule 424(b)(3)
Registration No. 333-69572
PROSPECTUS SUPPLEMENT TO THE PROSPECTUS DATED OCTOBER 9, 2001
OF
MIRANT CORPORATION
RELATING TO
RESALES BY SELLING SECURITYHOLDERS
OF
2.5% CONVERTIBLE SENIOR DEBENTURES DUE 2021
The Prospectus dated October 9, 2001 ("the Prospectus") relating to resales by
selling securityholders of Mirant Corporation's 2.5% Convertible Senior
Debentures Due 2021 is hereby supplemented by amending the "Recent Developments"
section on page 7 thereof by inserting the following developments at the
conclusion of that section:
Sale of Bewag: On December 3, 2001, we announced that we had entered an
agreement in which Vattenfall will buy Mirant's 44.8% ownership position in
Bewag, located in Berlin, Germany, for $1.63 billion. The sale is contingent on
approval by relevant anti-trust authorities.
Exposure to Enron: We incorporate by reference the information furnished by us
on Form 8-K, Item 9, on December 5, 2001.
Moody's Rating Downgrade: On December 19, 2001, Moody's Investor Service lowered
its rating on our senior unsecured debt from Baa2 to Ba1 and commercial paper
from Prime 2 to Not Prime. Moody's also lowered its rating on the following of
our subsidiaries or subsidiary issues: Mirant Americas Energy Marketing L.P.,
Mirant Trust I and Mirant Americas Generation, LLC. We are in the process of
evaluating the impact of this action on our business.
The Prospectus is also hereby supplemented by amending the "Selling
Securityholders" section on page 36 thereof by inserting the following as new
selling securityholders:
Number of
Aggregate Shares of
Principal Amount Associated
of Debentures At Total Percentage Common Stock Total Percentage
Name of Selling Maturity of Debentures that of Common Stock
Securityholder that May be Sold Outstanding May be Sold(1) Outstanding(2)
-------------- ---------------- ----------- --------------- ---------------
Starvest Managed Portfolio $40,000 * 589 *
State of Florida Division of Treasury $1,275,000 * 18,764 *
Allstate Life Insurance Company $2,000,000 * 29,433 *
* Indicates ownership of less than 1%.
(1) Assumes conversion of all of the holder's debentures at a conversion rate of
14.7167 shares of common stock per $1,000 principal amount at maturity of the
debentures, rounded down to the nearest whole number of shares. However, this
conversion rate is subject to adjustment as described under "Description of
Debentures - Conversion Rights." As a result, the amount of common stock
issuable upon conversion of the debentures may increase or decrease in the
future.
(2) Calculated based on Rule 13d-3(d)(i) of the Exchange Act using 340,351,333
shares of common stock outstanding as of October 3, 2001. Pursuant to that rule,
in calculating this amount for each holder, we treated as outstanding the number
of shares of common stock issuable upon conversion of all of that holder's
debentures but did not assume conversion of any other holder's debentures.
None of the selling securityholders have held any principal position, office or
had any other material relationship within the past three years with us or our
predecessors or affiliates.
The Prospectus is also hereby supplemented by amending the "Underwriters"
section on page 37 thereof by inserting the following, each as an affiliate of
one or more registered broker-dealers: Starvest Managed Portfolio, State of
Florida Division of Treasury and Allstate Life Insurance Company.
Prospectus Supplement dated December 19, 2001
End of Filing