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Fulton Financial Announces Pricing of $200 Million Offering of Non-Cumulative Perpetual Preferred Stock Depositary Shares
LANCASTER, Pa.--(BUSINESS WIRE)-- Fulton Financial Corporation (NASDAQ: FULT) (“Fulton”) today announced the pricing of its public offering of 8,000,000
About this update from Fulton Financial Corporation
[{"type":"text","content":" LANCASTER, Pa.--(BUSINESS WIRE)--\nFulton Financial Corporation (NASDAQ: FULT) (“Fulton”) today announced the pricing of its public offering of 8,000,000 depositary shares (the “depositary shares”), each representing a 1/40th interest in a share of Fulton’s 5.125% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, with a liquidation preference of $1,000 per share (equivalent to $25.00 per depositary share), for an aggregate offering amount of $200 million. Fulton has applied to list the depositary shares on the NASDAQ Global Select Market under the symbol “FULTP.”\n\nKeefe, Bruyette & Woods, Inc., A Stifel Company, BofA Securities, Inc., Morgan Stanley & Co. LLC, Piper Sandler & Co. and Wells Fargo Securities, LLC acted as the joint book-running managers for the offering. PNC Capital Markets and Stephens Inc. acted as co-managers.\n\nFulton expects that the net proceeds of the offering will be $193.7 million, after deducting underwriting discounts and commissions and before deducting transaction expenses payable by Fulton. Fulton intends to use the net proceeds of the offering for general corporate purposes.\n\nThis press release 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.\n\nThe offering is being made only by means of a prospectus supplement and accompanying base prospectus. Fulton has filed a registration statement (File No. 333-249588), 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 depositary shares to which this communication relates and will file a final prospectus supplement relating to the depositary shares. Prospective investors should read the prospectus supplement and base prospectus in the registration statement and other documents Fulton has filed or will file ...