Fulton Financial Corporation announces closing of $287.5M of common stock

Fulton Financial Corporation announced the closing of $287.5 million offering of common stock.

Fulton’s public offering of 19,166,667 shares of its common stock were at a price to the public of $15 per share, which included 2,500,000 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of common stock.

Deducting underwriting discounts and before deducting transaction expenses, Fulton received net proceeds from the offering of approximately $273.5 million.

According to a release, Fulton “intends to use the net proceeds of the offering for general corporate purposes, including to support new opportunities in connection with its business strategy.”

Fulton Financial Corporation operates more than 200 financial centers in Pennsylvania, Maryland, Delaware, New Jersey, and Virginia.

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