Svb Financial Group (SIVB) Prices 2M Share Common Offering at $500/Sh

SVB Financial Group ("SVB") (NASDAQ: SIVB), announced today the pricing of its underwritten public offering of 2,000,000 shares of its common stock at a price to the public of $500.00 per share for expected gross proceeds of approximately $1,000,000,000 before underwriting discounts and commissions and offering expenses. SVB has also granted the underwriters an option to purchase up to an additional 300,000 shares of its common stock to cover over-allotments. SVB intends to use the net proceeds from the offering for general corporate purposes, including supporting capital ratios at SVB and its subsidiary bank, Silicon Valley Bank.

Goldman Sachs & Co. LLC and BofA Securities are acting as joint book-running managers for the offering. Keefe, Bruyette & Woods, A Stifel Company, and SVB Leerink are acting as co-managers.

The offering is expected to close on March 25, 2021, subject to the satisfaction of customary closing conditions.

The offering is being made pursuant to an effective shelf registration statement, including a prospectus and prospectus supplement, filed by SVB with the U.S. Securities and Exchange Commission ("SEC"). Investors should read the prospectus in that registration statement, the related prospectus supplement and other documents SVB has filed with the SEC for more complete information about SVB and the offering before investing.

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