Svb Financial Group (SIVB) Announces 2M Share Common Offering

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Go back to Svb Financial Group (SIVB) Announces 2M Share Common Offering

SVB Financial Group Announces Proposed Offering of Common Stock

March 22, 2021 7:03 AM EDT

SANTA CLARA, Calif., March 22, 2021 /PRNewswire/ -- SVB Financial Group ("SVB") (NASDAQ: SIVB), announced today that it intends to offer 2,000,000 shares of its common stock in an underwritten registered public offering. SVB also intends to grant 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.

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