SVB Financial Group (SIVB) Prices 7.8M Common Offering at $38.50/Share
SVB Financial Group (NASDAQ: SIVB) today announced that it priced a public offering of 7,800,000 shares of common stock at $38.50 per share. The underwriters will also have a 30-day over-allotment option to purchase up to 1,170,000 additional shares of common stock from the company at the public offering price.
The offering is being made solely by means of a prospectus. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
J.P. Morgan Securities Inc. and BofA Merrill Lynch are serving as the joint-bookrunning managers of this offering and Keefe, Bruyette & Woods, Inc., RBC Capital Markets Corporation and Sandler O'Neill & Partners, L.P. are serving as co-managers.
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