10:01 AM EDT, 04/29/2024 (MT Newswires) -- Fulton Financial ( FULT ) said Monday it has priced a public offering of its nearly 16.7 million common shares at $15 apiece for a total amount of $250 million.

The financial holding company said it anticipates roughly $238 million in net proceeds and plans to utilize it for general corporate purposes and support opportunities related to its acquisition of all the assets and assumption of the deposits and certain liabilities of Republic First Bank.

The company has granted the underwriters a 30-day option to buy an additional 2.5 million common shares at the public offering price, Fulton added.

The offering is expected to close around Wednesday.

Shares of the company rose more than 10% in recent Monday trading.

Price: 17.27, Change: +1.65, Percent Change: +10.53