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Fulton Financial (NASDAQ: FULT) announced the closing of a $287.5 million public offering of common stock. The offering included 19,166,667 shares at $15 per share, with net proceeds of approximately $273.5 million. The funds will be used for general corporate purposes and to support new opportunities following an acquisition.
Fulton Financial announced the pricing of a $250 million offering of 16,666,667 shares of common stock at $15 per share, with a 30-day option for underwriters to purchase additional shares. The net proceeds are expected to be around $238 million. The offering will fund general corporate purposes, including business strategy opportunities post-acquisition of Republic First Bank assets. The expected closing date is around May 1, 2024.
Fulton Financial Announces Launch of Common Stock Offering
Fulton Financial (NASDAQ: FULT) today announced that it commenced an underwritten public offering of shares of its common stock. The expects to grant the underwriters a 30-day option to purchase additional shares of its common stock. Piper Sandler and BofA Securities are acting as joint book-running managers for the offering. The intends to use the net proceeds of the offering for general corporate purposes, including to support new opportunities in connection with its business strategy following its previously announced acquisition of substantially all of the assets and its assumption of substantially all of the deposits and certain liabilities of Republic First Bank, doing business as Republic Bank, from the Federal Deposit Insurance
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Fulton Financial (NASDAQ: FULT) announced the acquisition of substantially all assets and deposits of Republic First Bank from the FDIC. The transaction has closed, doubling Fulton's regional presence. Key terms include assets of $6 billion and liabilities of $5.3 billion. Fulton advances growth in the Philadelphia market, improves liquidity, and donates $5 million to the Fulton Forward® Foundation.
