Updated

Georgia's two Senate races will advance to a January runoff, with control of the upper chamber of Congress hanging in the balance, after none of the candidates captured a majority of ballots. 

Republican incumbent Sen. David Perdue and Democratic challenger Jon Ossoff will square off once more on Jan. 5 -- two days after the new Senate is scheduled to convene.

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The final tally showed Perdue just shy of the 50% necessary for a win, with 49.8% of the votes, while Ossoff received 47.8%, according to the Fox News Decision Desk.

Libertarian candidate Shane Hazel received 2.3% of the vote -- a number just high enough to keep either major party candidate from winning outright in a tight race. 

The two with the most votes qualify for the runoff, a second election called when no candidate in the first vote wins more than 50%, according to USA Today.

The runoff between Perdue and Ossoff race isn't the only one planned in the Peach State.

Election workers examine ballots as vote counting in the general election continues at State Farm Arena on Thursday, Nov. 5, 2020, in Atlanta. (AP Photo/Brynn Anderson)

Election workers examine ballots as vote counting in the general election continues at State Farm Arena on Thursday, Nov. 5, 2020, in Atlanta. (AP Photo/Brynn Anderson)

Sen. Kelly Loeffler, another GOP incumbent, and Democratic newcomer Raphael Warnock are set to face off again, too.

On a candidate-heavy ballot, Loeffler won 25.94% of the vote while Warnock nabbed 32.89%. Among the remaining candidates, Rep. Doug Collins landed 19.98%, and Democrat Deborah Jackson won 6.58%, the Fox News Decision Desk reported.

Collins, a Republican and staunch ally of the president, conceded to Loeffler on Tuesday, hoping to keep the seat red.

Nationally, the Senate is split at 48-48. Democrats remain in a precarious position, however, as Republican candidates lead uncalled races in battleground North Carolina and traditionally-conservative Alaska.

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In Georgia, where demographics have shifted since 2016, the former vice president was narrowly leading President Trump by 0.2 percentage points, or 49.5% to 49.3% respectively.

As The Associated Press reported Saturday, Ossoff and Perdue have relatively moderate platforms, with Perdue focusing on the economy and Ossoff hammering the senator's response to the coronavirus pandemic.

The runoffs are must-win races for Democrats who haven't taken a Senate seat there in 20 years. Currently, NPR reports, Democrats have a net gain of just one seat in the Senate. 

With Biden and vice presidential nominee Sen. Kamala Harris projected to win the general election, if Democrats manage to pick up both seats, tying the Senate 50-50, Democrats would effectively be in control, given the vice-president's ability to cast tie-breaking votes.

Georgia was the only state in the nation with two Senate elections this year.

On Sunday, Loeffler and Warnock will debate in an event hosted by the Atlanta Press Club and moderated by FOX 5 Atlanta anchor Russ Spencer.

Georgia is also slated to see some high-profile guests including Vice President Mike Pence and the president, who is slated to headline a Republican National Committee rally Saturday at 7 p.m. at the airport in Valdosta.

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Former President Barack Obama is also starring in the Ossoff campaign’s latest TV commercial

Over the past month, the National Republican Senatorial Committee (NRSC) saw a surge in fundraising of $75 million.