Fulton Financial Announces Pricing of $250 Million Offering of Common Stock
29 Abril 2024 - 9:56AM
Business Wire
Fulton Financial Corporation (NASDAQ: FULT) (the “Corporation”)
today announced the pricing of its public offering of 16,666,667
shares of its common stock (the “common stock”), at a price to the
public of $15 per share, for an aggregate offering amount of $250
million. In addition, the Corporation has granted the underwriters
a 30-day option to purchase up to an additional 2,500,000 shares of
common stock at the public offering price, less underwriting
discounts.
Piper Sandler and BofA Securities acted as joint book-running
managers for the offering.
The Corporation expects that the net proceeds of the offering
will be approximately $238 million, assuming no exercise of the
Underwriters’ option to purchase additional shares, after deducting
underwriting discounts and before deducting transaction expenses
payable by the Corporation. The Corporation 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
Corporation. The Corporation expects to close the offering, subject
to customary conditions, on or about May 1, 2024.
The offering is being made only by means of a prospectus
supplement and accompanying base prospectus. The Corporation has
filed a registration statement on Form S-3 (File No. 333-274624),
and a preliminary prospectus supplement to the prospectus contained
in the registration statement with the U.S. Securities and Exchange
Commission (the “SEC”) for the shares of common stock to which this
communication relates and will file a final prospectus supplement
relating to the shares of common stock. Prospective investors
should read the prospectus supplement and base prospectus in the
registration statement and other documents the Corporation has
filed or will file with the SEC for more complete information about
the Corporation and the offering. You may obtain these documents
for free by visiting EDGAR on the SEC’s website at
http://www.sec.gov. Electronic copies of the final prospectus
supplement, when available, and the accompanying base prospectus
may be obtained by contacting Piper Sandler, 800 Nicollet Mall,
J12S03, Minneapolis, MN 55402, Attention: Prospectus Department, or
by telephone at (800) 747-3924 or email at prospectus@psc.com or
BofA Securities, Attention: Prospectus Department, NC1-022-02-25,
201 North Tryon Street, Charlotte, NC 28255-0001, or by email at
dg.prospectus_requests@bofa.com.
This press release is for informational purposes only and does
not constitute an offer to sell or a solicitation of an offer to
buy the securities, nor shall there be any sale of the securities
in any state or other jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
The securities being offered have not been approved or disapproved
by any regulatory authority, nor has any such authority passed upon
the accuracy or adequacy of the prospectus supplement or the shelf
registration statement or prospectus relating thereto.
About Fulton Financial
Corporation
Fulton Financial Corporation is a Pennsylvania-based financial
holding company that operates more than 200 financial centers in
Pennsylvania, Maryland, Delaware, New Jersey and Virginia through
its banking subsidiary, Fulton Bank, N.A.
Safe Harbor Statement
This press release contains forward-looking statements.
Forward-looking statements can be identified by the use of words
such as “may,” “should,” “will,” “could,” “estimates,” “predicts,”
“potential,” “continue,” “anticipates,” “believes,” “plans,”
“expects,” “future,” “intends,” “projects,” the negative of these
terms and other comparable terminology.
Forward-looking statements are neither historical facts, nor
assurance of future performance. Instead, the statements are based
on current beliefs, expectations and assumptions regarding the
future of the Corporation’s business, future plans and strategies,
projections, anticipated events and trends, the economy and other
future conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of the Corporation’s control, and actual results
and financial condition may differ materially from those indicated
in the forward-looking statements. Therefore, you should not unduly
rely on any of these forward-looking statements. Any
forward-looking statement is based only on information currently
available and speaks only as of the date when made. The Corporation
undertakes no obligation, other than as required by law, to update
or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
A discussion of certain risks and uncertainties affecting the
Corporation, and some of the factors that could cause the
Corporation's actual results to differ materially from those
described in the forward-looking statements, can be found in the
sections entitled “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” in the
Corporation’s Annual Report on Form 10-K for the year ended
December 31, 2023 and other current and periodic reports, which
have been, or will be, filed with the Securities and Exchange
Commission (the “SEC”) and are, or will be, available on the SEC's
website (www.sec.gov).
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version on businesswire.com: https://www.businesswire.com/news/home/20240429507051/en/
Media Contact: Lacey Dean, 717-735-8688
Investor Contact: Matt Jozwiak, 717-327-2567
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