Fulton Financial Announces Pricing of $200 Million Offering of Non-Cumulative Perpetual Preferred Stock Depositary Shares
Fulton Financial Corporation (NASDAQ: FULT) has priced its public offering of 8,000,000 depositary shares, each representing a 1/40th interest in its 5.125% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A. This offering totals $200 million, with expected net proceeds of $193.7 million for general corporate purposes. The depositary shares will be listed on NASDAQ under symbol 'FULTP'. The offering is being managed by Keefe, Bruyette & Woods, BofA Securities, Morgan Stanley, Piper Sandler, and Wells Fargo.
- Successful pricing of $200 million public offering.
- Expected net proceeds of $193.7 million for corporate use.
- Listing on NASDAQ under symbol 'FULTP' enhances visibility.
- None.
LANCASTER, Pa.--(BUSINESS WIRE)--Fulton 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
Keefe, 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.
Fulton expects that the net proceeds of the offering will be
This 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.
The 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 with the SEC for more complete information about Fulton 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 Keefe, Bruyette & Woods, Inc., A Stifel Company at 1-800-966-1559; BofA Securities, Inc. at 1-800-294-1322; Morgan Stanley & Co. LLC at 1-866-718-1649; Piper Sandler & Co. by emailing fsg-dcm@psc.com; and Wells Fargo Securities, LLC at 1-800-645-3751.
About Fulton Financial Corporation
Fulton, a
Forward-Looking Statements
Statements made in this press release regarding the offering of the depositary shares are forward-looking statements. Fulton may be unable to close the offering on the anticipated date, or at all. Risks and other factors that could cause the offering not to be completed, or to be completed with different terms, include market conditions and volatility in the market price of Fulton’s publicly traded securities, as well as other risks listed from time to time in Fulton’s filings with the SEC, including but not limited to, Fulton’s annual and quarterly reports. Fulton has no obligation to revise or update any forward-looking statements, other than as imposed by law, as a result of future events or new information. Readers are cautioned not to place undue reliance on such forward-looking statements.
