Fulton Lays In Cash After Republic First Takeover -- Market Talk

Dow Jones04-29

0935 ET - Fresh of its acquisition of the failed Republic First, Fulton Financial bulks up its coffers with a $250 million stock offering. Fulton sells nearly 16.7 million shares at $15 apiece, about 4% below Friday's closing price. Fulton, which on Friday acquired substantially all of the assets and assumed substantially all of the deposits of Republic First after regulators seized the troubled Philadelphia bank, says it will use proceeds from the offering to support new opportunities related to the move. Fulton up 7.7% to $16.82 in early trading. (colin.kellaher@wsj.com)

(END) Dow Jones Newswires

April 29, 2024 09:35 ET (13:35 GMT)

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